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HomeMy WebLinkAboutDecember 20, 1994- T ~ . ;:.~ ~ A G E N D A Arcadia City Council Meeting December 20, 1994 Regular Meeting: 7:00 P.M. ROLL CALL Council Members Chang, Kuhn, Lojeski, Margett and Young INVOCATION PLEDGE OF ALLEGIANCE PRESENTATION 1. District-Wide Winners of the "Color-A-Bag" Contest for Red Ribbon Week. _ - - - - ~~ -~-- - ~- -,1,: ~ ACTION 2. Marci Mattos - Arcadia Chapter of the Girl Scouts of America. SUPPLEMENTAL INFORMATION FROM STAFF REGARDING AGENDA ITEMS QUESTIONS FROM CITY COUNCIL REGARDING CLARIFICATION OF AGENDA ITEMS MATTERS FROM STAFF Reports/Annou ncements/Statements MOTION: Read all ordinances and resolutions by title only and waive reading in full. TIME RESERVED FOR THOSE IN THE AUDIENCE WHO WISH TO ADDRESS THE CITY COUNCIL (NON-PUBLIC HEARING) -(FIVE MINUTE TIME LIMIT PER PERSON) -1- AGENDA 12I20/94 ,~ , ~ ~ MATTERS FROM ELECTED OFFICIALS City Council Reports/Announcements/Statements/Future Agenda Direction PUBLIC HEARINGS 1. Consideration of TA 94-010 amending Section 9275.6.12 of the Arcadia Municipel Code, requiring a conditional use permit for businesses with four or more game machines. 2. Consideration of TA 94-011 establishing regulations for sidewalk dining in the commercial zones. MEETING OF THE ARCADIA REDEVELOPMENT AGENCY ROLL CALL: Agency Members Chang, Kuhn, Lojeski, Margett & Young PUBLIC HEARING 1. Recommendation to Adopt Resolution No. ARA - 175 - Approving the Adoption of a Five-Year Implementation Plan for the Central Redevelopment Project Area. CONSENTITEMS 1. Minutes of the November 15 and December 6, 1994 regular meetings. 2. Report and Recommendation to approve the Seventh Modification Agreement for the Southside (Gribble) Project. 3. Report and Recommendation to approve the Redevelopment Agency Annual Report (1993-94) to the State. ADJOURN to January 3, 1995 @ 7:00 p.m. RECONVENE CITY COUNCIL CONSENTITEMS CA TION 1. MINUTES of the November 15 and December 6, 1994 regular meetings. ' -2- AGENDA 12/2~/94 ~ ~ i CONSENT, continued 2. Report and Recommendation to purchase five vehicles of taxi configuration for Arcadia Transit. 3. Report and Recommendation to purchase a replacement aerial ladder truck for the Fire Department. 4. Report and Recommendation to approve the Arcadia Redevelopment Agency Annual Report (FY 1994-95). CITY MANAGER Presentation - City Investment Practices. CITY ATTORNEY RESOLUTION No. 5832 - A Resolution of the City Council of the City of Arcadia, California, amending Resolution No. 5608 establishing a Y-Rating Policy for Management and General Employees. 2. ORDINANCE No. 2026 - Adoption - An Ordinance of the City Council of the City of Arcadia, California, amending Part 3 of Chapter 1 of Article V regarding regulations for the Commercial and Industrial Recycling Program. ORDINANCE No. 2028 - Introduction - An Ordinance of the City Council of the City of Arcadia, California, adding a new Part 4 to Article VIII, Chapter 0, establishing a Building Code Appeals Board and amending Division 6, Part 3, Chapter 1 of Article Iil relating to Fire Code Appeals of the Arcadia Municipal Code and designating the Development Services Director as the "Building Official". 4. ORDINANCE No. 2029 - Introduction - An Ordinance of the City Council of the City of Arcadia, California, amending Section 6434.2 of the Arcadia Municipal Code relating to Commercial Refuse and the collection thereof. ACTION -3- AGENDA 12120/94 :_, ~ ~ CITY ATTORNEY, continued ACTION 5. ORDINANCE No. 2030 - Adoption - An Ordinance of the City Council of the City of Arcadia, California, amending Section 6439 sub-section (7) (b) of the Arcadia Municipal Code by amending (b) and adding sub- sections (1) through (3) regarding removal of newsracks affected by public property projects. 6. ORDINANCE No. 2031 - Adoption - An Ordinance of the City Council of the City of Arcadia, California, amending Chapter 9 of Article II of the Arcadia Municipal Code concerning organization and title changes applicable to reorganization of the Finance Department to Administrative Services and Community Development to Development Services. CLOSED SESSION Pursuant to Government Code Section 54956.8 to confer with Agency real property negotiator regarding instructions concerning the possible sale or lease of the Agency-owned real property located at the southwest corner of E. Huntington Drive and S. Second Avenue, (154-170 E. Huntington). Negotiations are with Thorrias Shannon of Outback Steak House. Pursuant to Government Code Section 54556.8 to confer with Agency negotiators regarding instructions concerning a possible lease affecting real property located at 440 E. Huntington Drive. Negotiations are with George Grosso of Bend Properties (owner and landlord). Pursuant to Government Code Section 54975.6 for conference with labor negotiators Dan Cassidy and/or Gary Rogers regarding the Arcadia Firefighter's Association and the Arcadia Police Relief Association. ADJOURN to January 3, 1995 @ 7:00 p.m. -4- AGENDA 12120J94 s 'f ■11411 CI MeMotandunt it resc,A ., ._ �f4 j Date: December 20, 1994 TO: Mayor and City Council • FROM: j Mayor and City Council December 20, 1994 Page two RECOMMENDATION It is recommended that the City Council award the contract for the purchase of the five sedans of taxi configuration in the amount of$105,899.96 to Rotolo Chevrolet and appropriate an additional $7,000 from Transit funds and authorize the City Manager to execute said contract in a form approved by the City Attorney. Approved by: 'iki(q William R. Kelly, City Manager ' (-3 , 0G/t)-/� , rSki. ;,_ '. .. ' .' / i----- -----1 ki, •1 ),• . -_, Memorandum '--0, •-.,.;,, , t:. , I ARCADIA -- R,_ORATE December 20, 1994 TO: City Council and Redevelopment Agency FROM: By: Peter P. Kinnahan, Economic Development Administrator _;'Prepared by: Dale R. Connors, Redevelopment Project Manager CI RE: Recommendation to Approve the Redevelopment Agency Annual Report (FY19993-94) SUMMARY: California Redevelopment Law (Health and Safety Code §33080) requires that all redevelopment agencies file an annual fiscal and housing activity report with the Legislative Body (City Council), the State of California Department of Housing and Community Development (HCD) and State Controller within 6 months of the end of the fiscal year. The attached report was prepared to satisfy this requirement. Since this document is to report on Agency status for Fiscal Year 1993-94, the information provided within it represents Agency activities as they existed as of June 30, 1994. The Annual Report is divided into nine sections as follows: I. INTRODUCTION II. CENTRAL REDEVELOPMENT PROJECT AREA III. COMPARISON OF AGENCY GOALS AND OBJECTIVES (FY 1993-94) IV. WORK PROGRAM FOR THE COMING YEAR (FY 1994-95) V. HOUSING SET ASIDE VI. RESIDENTIAL DISPLACEMENT, CONSTRUCTION AND REHABILITATION DATA VII. LEGISLATIVE RECOMMENDATIONS VIII. FISCAL STATEMENT IV. FINANCIAL AUDIT LASER rivIAGFD A',} C' 4 41 ,4 . 3 i Redevelopment Agency Annual Report December 20, 1994 Page 2 • A final copy of this report will be submitted to HCD and the State Controller by December 31, 1994. FISCAL IMPACT: None RECOMMENDATION: Redevelopment Agency: That the Arcadia Redevelopment Agency present the FY 1993-94 Annual Report to the Arcadia City Council for approval and authorization to transmit it to HCD and State Controller. City Council: That the Arcadia City Council approve the FY 1993-94 Annual Report and direct staff to transmit it to HCD and the State Controller. Attachments: Arcadia Redevelopment Agency Annual Report Approved: William R. Kelly, Executive Director/City Manager PMPITI ARCADIA REDEVELOPMENT AGENCY Annual Report to the State Fiscal Year 1993-94 December 20, 1994 TABLE OF CONTENTS I. INTRODUCTION A. The City B. The Arcadia Redevelopment Agency CENTRAL REDEVELOPMENT PROJECT AREA III. COMPARISON OF AGENCY GOALS AND OBJECTIVES - FISCAL YEAR 1993-94 IV. WORK PROGRAM FOR THE COMING YEAR V. HOUSING SET ASIDE VI. RESIDENTIAL DISPLACEMENT, CONSTRUCTION AND REHABILITATION DATA VII: LEGISLATIVE RECOMMENDATIONS VIII. FISCAL STATEMENT IX. FINANCIAL REPORT • EXHIBITS - A - Regional Location Map B - Central Redevelopment Project Area Map C - FY 1992-93 Redevelopment Opportunity Location Map D - Downtown 2000 Program Map E - Annual Report of Housing Activity (HCD) F - Resolution No. ARA-173 G - Resolution No. ARA-174 H - Annual Report of Financial Transactions (Controller) I - Arcadia Redevelopment Agency Financial Statements �s INTRODUCTION, • A. THE CITY The City of Arcadia, with a population of approximately 49,818, is a residential community with an expanding commercial base, located in the San Gabriel Valley region of Los Angeles County (Exhibit A, Regional Location Map). The City was incorporated in 1903 and has a five member City Council which is elected at large. B. THE ARCADIA REDEVELOPMENT AGENCY On December 17, 1968, the Arcadia City Council adopted Ordinance No. 1396, declaring the need for a redevelopment agency and designating itself as the governing body of the Agency. The current Agency and staff members are as follows: Office Occupant Chair Mary. B. Young Chair Protempore Dr. Sheng Chang Board Member Barbara D. Kuhn Board Member Dennis A. Lojeski Board Member Robert G. Margett Executive Director William R. Kelly Agency Counsel Michael H. Miller Agency Secretary June D. Alford Agency Treasurer James S. Dale II. CENTRAL REDEVELOPMENT PROJECT AREA, . On December 26, 1973, the City Council adopted Ordinance No. 1490 establishing the Central Redevelopment Project. The Central Redevelopment Project area consists of 252 acres of land located in Arcadia's traditional central business district. The land uses within the area are primarily (although not exclusively) commercial, retail and industrial in nature. ■N■ REGIONAL LOCATION MAP 6.4wilii; feb SAN ti FERNANDO 9F,, . J•270 LA CANADA VAN s,�i NUYS F VENTIJAA GLENDALE s. - FREE w W * FO0, PASADENA ii !b ��'` �Q� ARCADIA FREEWAY I.21t� HOLLYWOOD `9F a COVINA W '� F�4Y SAN BERNAP0000 4 cavro 'ii: 0 i. BEVERLY ''�C7 HILLS Ati I.10 F CULVER LOS 6t4. +� CITY o ANGELES o r4� 10 INDUSTRY CAP ti 4.. '' BELL Ty' WHITTIER a \\V ; > gQ' r c W $ v COIJIITV OF ANGELES MARINA W FCOiIITY OF ORANGE DEL RAY 4a' F .1\\ HAW THORNS < <5 -"b ' BREA YORBA /y = Y ��LINDA MANHATTAN ARTESiA FREEW.I, 1 BEACH .unimr 'i++ 0 CARSON LAKEWOOD [-- REDONDO TORRANCE W BEACH i' 1 GARDEN VPAL03 PAC*IC COAST riGHWAY GROVE FREEWAY VERDES LONG Gqq E _ • c BEACH i CARD EN o • ROLLING }1 ' . `' ^--,- `� �a SANTA u �� ANA m.-:`� HILLS (J SEAL • .- \� - ;�~ BEACH •. e,� 41' �4 FIN). • PACIFIC OCEAN ■ ■4. NORTR No Scale Exhibit A k CENTRAL REDEVELOPMENT PROJECT AREA 64/46,i ♦♦♦ PF +� r♦ F.O' •H0 I err D RHO RLQ♦ Via,It II. 'ewr... f'. CG RLD ♦ •••• :tab iw'eii RHD RHO RHD CG ► _ ® , <ICGI RHD I�C RHD®� � UG I �`I I ♦♦ ' l , La Port. St.\CO . , GG/I Q I I .�� I L V. — ` sr ♦♦ 0 S••t. Clara t. s \• r C > 'I > • % — / C CG �� GG CG I —L 1: ...'\°‘` • , • _ - r 4_11__e_ir° CO N G �G J m L CG \ s �'- ®∎ - — Ha.tl.Lt•• Delve • �' lull .• I__ RHD IC di IC RHD 1 CG I t. i'7 s . T I 11`,.® PD , ri + °♦� a ♦♦ X s LEGEND ∎, N. �e� RHD Residential High Density I Industrial . t3' RLD Residential Low Density PF Public Focllltle s cf. CO Commercial Office PD Planned Development (NORTH W Cc lobe,. 19t16 CC Commercial General -- Project Area Boundary No Scale Pursuant to changes in Redevelopment Law (AB1290) the Central Redevelopment Project now has an estimated completion date of January 25, 2014. The total amount of tax increment dollars which may be divided and allocated to the Agency pursuant to the Plan is two hundred million dollars ($200,000,000). The Agency has received approximately $20,000,000 cumulatively to date. The Project Area is depicted in Exhibit B' III. COMPARISON OF AGENCY GOALS AND OBJECTIVES - FISCAL YEAR 1993-94 ' A number of redevelopment opportunities were identified in last year's Annual Report which were pursued by the Agency during the reporting period subject to this report. They are described below and are depicted on Exhibits C and D: A. The Northside Project (Santa Clara and Second) Two properties within the Northside Project site are subject to a November 17, 1987 DDA which required construction of office buildings. Due to the poor regional economy and locally overbuilt office market, they remain undeveloped. The properties are owned by Emkay Development Company. (Parcel E) and Western Security Bank (Parcel D). The Agency initiated discussions with Emkay on the new "Fifth Avenue Project" (See "E" below) which would combine their property with others to the south in the City of Arcadia as well as two properties in Monrovia immediately to the east (south of the Foothill Freeway). If an agreement can be reached with Emkay, a developer and the City of Monrovia Redevelopment Agency on this project, Emkay will be relieved of its development obligation per the 1987 DDA . While both Western Security Bank and Emkay have to date failed to develop Parcels D and E respectively as envisioned in the November, 1987 Northside Project. DDA as amended, they remain bound by the terms and conditions of that document and amendments. The Agency will continue to work with them (and adjacent owners as necessary) to complete the Northside Project or the Fifth Avenue Project B. Southwest Corner Project (Huntington and Second) The Agency continued to market the site to the development community as an office/retail site. On November 2, 1992, the Agency entered into an exclusive commercial brokerage agreement with Hayes and Company for the purpose of publicizing and marketing the Southwest and Northwest Corner FY 1993-94 REDEVELOPMENT OPPORTUNITY LOCATION MAP . ■N■ Theater Project --r.`��� Southwest Corner Project �� • o% PF __®�•� fee Northwest Corner Project ��a �r. 4i,, Northside Project (Parcels E & D) • 'HO I Ml o R r. RID ■ Fifth Avenue Project RI CG` LD a` ey :Its,. ..4 'u RHD, RHOI'Ho G •` , C•l•r Yr Sivas. -.. % 1 1 \W s,.. HO II:CE 0. _ fe-ti_ G 1 La Part St. • N, gh CO I 1 IiiNill1111 1 � .�• ICG/ - lot • vie, A 1. --- PO • V = ` 1 1 . I C CG/1 c CG •4I I , e• Santa Clara 1. • idle. . - s • IM ' • '11q■-■o a ° 9 al C O 1 C G ��� `• l MCI - 14 CG '. 4 ( gyp'"? ,% 1 6 ( CG 0m �_ r- • . .. Nuatlatto. Drive•C G —� ( CG 4�4'GaiiHilld 0 v r .. l RHD IC J IC Gil RHO '1' I • PD f� c LEGEND ®'1lo X I RHO Residential High Density I Industrial H- O' t RID Resldenliol Low Density PF Public Facilities F" CO Commercial Office PD Planned Development MORTH It October, 1988 CG Commercial General ®ems Project Arco Boundary No Scale r. (7 DOWNTOWN 2000 ■M■ NMI LOCATION MAP 4110 1 r 3 <% e o esvl y ' BOA�ac`e�a •nv \ �% o� ? di►. Ave .•.=I:- �� FOOnaLL Hillc� o\ _ � M. Bi A J Orly .y \ vc .r. Avet m•r= • O • Ave. ° '' - AfDO� . a.1 . - c c Q allaigal S y m JJ +v .0� 1 J.c� I? Floral ®I F�.I Ave ' .c 0. Inwooe. .I_•••• - '1'3 35—_– .---- 11 i._ F.r.. Avg g -, c \ o• 9e "s � r I - .n 1 '=a ¢p i'° � y , ' ilr: E t r r� er • / F ptAitspopiiv, . ..... :ritiorfoia-voRripili .'4.:* • - 0. 40, 1 di 111 ' EMPL A f •.`,'_•� „It' r- . Al FARlC / •��ii7 �• _ ER '""•„..\ ' . . ''Sciik /.4:'•14.111ra ' 1Plik . _ i_Filll i.tin "� _ En =LT-iir.rou 441;t1...16:::;:„•:.... ..�•„'. .a I 300 q ; AttCAD1A '`', G1DIA' 100 11iw?I � 'C maw_ 0 •' NMI -, . S. = I CE Et r . ve 1':. ¢ . �t1001 1' 't fl b $ 'r e i l _ n•alow ve 71. ... Ii= • r. s Ttffan Z tTE LLrA Alb ° V. Means • t u I a, - an. � ..' <' '.• I.MID u...._ Boundaries of the Downtown .. Revitalization Strategy Program y ;-•. Boundaries of the Central N°. � 4 '• . . . ° '. Redevelopment Project Area No scat. , Exhibit D L sites to the development community. That Agreement currently extends through November 2, 1995. C. Northwest Corner Project (Huntington and Second) See comments for Item B above. D. Downtown 2000 (formerly the Downtown Revitalization Strategy and Program) Formerly known as the Downtown Revitalization Strategy and Program, Downtown 2000 is an expanded and coordinated program of capital improvement and business retention and attraction components. The streetscape component of Downtown 2000 proposes construction of new public improvements on Huntington Drive from Santa Clara Street to Fifth Avenue and on First Avenue from Wheeler Street to California Street, e.g., landscaping, new pedestrian lights, seating areas, entry monuments, revised parking, resurfaced streets, etc. Business incentive programs include a commercial facade rehabilitation program, business attraction program business marketing program, signage program, cooperative parking, special events, land use/zoning/design amendments, public accessway acquisitions, etc. E. Fifth Avenue Project At the end of Fiscal Year 1993/94, the Agency began discussions concerning the feasibility of jointly developing with the Monrovia redevelopment Agency a project which would span the shared City boundary The project site is approximately 14.5 acres is size (7.95 acres within Arcadia, excluding rights-of-way). An attractive marketing brochure for commercial development was provided to developers who expressed interest at the May, 1994 National I.C.S.C. Conference and was mailed to numerous L.A. area developers. Since the close of the fiscal year (a period not covered by this report), both redevelopment agencies have selected and begun negotiations on this project with The Festival Group. These negotiations will continue during the next reporting period. F. Theater Project (Foulger Ford) The Agency was contacted by Vic Georgino, an experienced developer from the San Fernando Valley, with a proposal to develop the former 4 acre Foulger Ford property (northeast corner of Huntington Drive and Santa Clara Street) with a multi-plex theater, 2 restaurants and parking structure. The • agency will continue to negotiate with Mr. Georgino during the next reporting period. IV. WORK PROGRAM.FOR THE COMING YEAR - FISCAL YEAR 1994-95 AB 1290 Implementation Plan - • The Agency will develop and adopt the Five Year Implementation Plan including a housing strategy during the coming fiscal year as required per AB1290. The Implementation Plan is scheduled for Agency consideration/adoption on December 20, 1994. General Activities - • Process building permit applications through the Agency's design review process. • Conduct public relations activities with developers and the general public. • Conduct a commercial space availability survey and provide the results of the survey to the public. • Prepare agendas, meeting set-up, minutes, correspondence, staff reports and other materials for the Parking District Commission. • Seek development proposals for approved projects and "opportunity" projects. Project Specific Activities - • Northside Project (Santa Clara and Second) The Agency will continue to work with the property owners in the area concerning the feasibility of developing Parcels D and E. • Southwest Corner Project (Second/Huntington) The Agency will continue to market the site to the development community as an office/retail/restaurant site. This site has been identified as a key opportunity site. -„ • Northwest Corner Project (Second/Huntington) The Agency will continue to market the site to the development community as an office/retail/hotel and residential site. • Downtown 2000 The Redevelopment Agency and City of Arcadia will continue to implement the Downtown 2000 concept (i.e., streetscape, zoning/design and Business Incentive components) during the coming fiscal year. • Fifth Avenue Project Since the close of the fiscal year (a period not covered by this report), both the Arcadia and Monrovia Redevelopment Agency have begun negotiations on this project with The Festival Group. These negotiations will continue during the next reporting period. • Theater Project (Foulger Ford) The Agency will continue to negotiate with Mr. Georgino on his proposed theater/restaurant project during the next reporting period. V. HOUSING SET ASIDE Detailed figures on housing set aside funds collected by the Agency and their expenditure are available in the 1993-94 Annual Report of Housing Activity (Exhibit E). On July 20, 1993, the Agency adopted Resolution No. ARA-173 (Exhibit F) declaring that it is unable to set aside 20% or less of its FY1993-94 tax increment for low/moderate income housing due to existing Agency obligations, programs, projects and activities. On July 5, 1994, the Agency adopted Resolution No. ARA-174 (Exhibit G) declaring that it is unable to set aside 20% or less of its FY1994-95 tax increment for low/moderate income housing due to existing Agency obligations, programs, projects and activities. Notwithstanding the above resolutions, the Agency's FY 1993-94 housing set aside obligation was $463,086. The total balance owed to the Low and Moderate Income Housing Set-Aside Fund as of June 30, 1994 is $3,154,464. J r" VI. RESIDENTIAL DISPLACEMENT, CONSTRUCTION AND REHABILITATION DATA During the reporting period covered in this report, the Agency undertook no activities affecting residential uses. Neither construction nor clearance activities were pursued. The Agency is currently working of its Fifth Avenue Project which, if ultimately developed, would result in the relocation of approximately 19 households. The Agency will relocate eligible households pursuant to the Law and, depending upon when the housing units are cleared, may be required to build replacement housing. VII. LEGISLATIVE RECOMMENDATIONS -^ That redevelopment agency funds not be used to balance the State budget. VIII. FISCAL STATEMENT The following reports are included herein as exhibits: Exhibit E - Housing Activity Report to HCD Exhibit H - Annual Report of Financial Transactions IX. FINANCIAL AUDIT' The Agency's annual audit conducted by Lance, Soll and Lunghard as well as the Compliance Audit Letter is included here as Exhibit I. ANNUAL REPORT OF HOUSING ACTIVITY OF COMMUNITY REDEVELOPMENT AGENCIES FOR FISCAL YEAR ENDED 6 /30 / 9 4 Agency Name and Address: County of Jurisdiction: Arcadia Redevelopment Agency Los Angeles • P. 0. Box 60021 Arcadia CA 91066-6021 Pursuant to Health and Safety Code Section 33080.1,redevelopment agencies must annually report on their housing activities and Low & Moderate Income Housing Fund balances, and per Section 33080.3 file a copy of this report with the Department of Housing and Community Development (HCD). Section 33080.6 requires HCD to annually compile and publish a report of redevelopment agencies' housing activity. Please answer each of the following questions to determine which HCD Schedules your agency must prepare to provide a complete report of housing activity and fund balances for the reporting period. 1. How many adopted project areas did the agency have during the reporting period? 1 If one or more, prepare and submit a separate copy of SCHEDULE HCD-A for each adopted project area. If none, do not submit Schedule HCD-A. 2. Did the agency conduct any housing activity outside of adopted redevelopment project areas? Yes. Prepare and submit one copy of SCHEDULE HCD-B for the agency. X No. Do not submit Schedule HCD-B. 3. Did the agency have any adopted project areas, or housing activity outside of redevelopment project areas, or any funds in the Low & Moderate Income Housing Fund? X Yes. Prepare and-submit one copy of SCHEDULE HCD-C for the agency. No. Do not submit Schedule HCD-C. To the best of my knowledge the representations made in the above statement and the disclosures contained in the HCD schedule(s) submitted herewith are true and correct. Date Signature of Authorized Agency Representative Redevelopment Project Manager Title (818) 574-5409 Telephone number HCD-Cover 93/94 Page 1 of 1 Exhibit E El) SCHEDULE HCD-A Project Area Activity for Fiscal Year Ended 6 / 3 0 /9 4 Agency Name: Arcadia Redevelopment Agency Project Area Name: Central Preparer's Name, Title: Dale R. Connors • Preparer's Telephone No: (818) 574-5409 General Information 1. a. Year project area adopted: 19 7 3 b. If project name has changed,give previous name(s)or number: NA c. Year(s) merged: NA , Areas merged: NA d. Year(s) areas were added or removed: NA 2. Redevelopment project areas adopted or portions added thereto after 1975 are subject to affordable housing production requirements (including"AB 315 plans") per Section 33413. In addition,the agency may,by resolution,elect to make the project area, or portions thereof adopted prior to 1976 subject to this section. Check here if this area , or portion thereof , is subject to the affordable housing production and planning requirements. Tax Increment Set-asides 3. Percentage of project's gross tax increments set aside for housing and deposited in the L&M Fund: (Show exact %.) 0 % 4. a. If set-aside is less than 20% of the total gross tax increments, indicate the reason(s). Check the appropriate Health and Safety Code Section designation(s): Section 33334.2(a)(1): No need in community to increase/improve supply of low/moderate-income housing. Section 33334.2(a)(2): Less than 20% set-aside is sufficient to meet the need. Section 33334.2(a)(3): Community is making substantial effort equivalent in value to 20% set-aside and has specific contractual obligations incurred prior to May 1, 1991 requiring continued use of this funding. X Section 33334.6(d): Project was adopted prior to 1977 and tax increments are needed to meet existing debts. X Section 33334.6(e): Project was adopted prior to 1977 and tax increments are needed for timely completion of projects to which agency was committed prior to 1986.) Other: Specify code section, reasons: b. When were the necessary findings adopted? (Show month/day/year.) Please attach copies of any findings adopted for this reporting period per Section 33334.2, if you have not yet submitted them to the Department. 5. If agency is exempting per Section 33334.2(a)(1), (2) or (3), identify the amount by which the • set-aside was reduced during the fiscal year: $ NA HCD-A 93/94 Page 1 of 6 Agency Name: Arcadia Redevelopment Agency Project Area Name: Central 6. a. A deferred set-aside pursuant to Section 33334.6(d) or (e) constitutes an indebtedness to the L&M Fund equal to the amount of the set-aside being deferred. Summarize the amount(s) of set-aside deferred during this fiscal year and cumulatively: Fiscal Amount Deferred Amount of Prior Cumulative Amount Year During FY FY Deferrals Deferred (less any Repaid During FY amount repaid) 92/93 S 2 , 691 ,378 ...............:................:......:............ 93/94 $ 463 , 086 $ $ 3 , 154 , 464 If 92/93 cumulative deferral•shown,here-differslrom.what was reported on the last report, indicate the amount of and the reason for the difference: • b. Is the cumulative amount of indebtedness included in the agency's L&M Fund ending balance (Schedule HCD-C)? Yes No X c. 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 X No d. Iff yes, by what date is the deficit to be eliminated? 1 /25 /2 4 7. Report all actual (not deferred) revenues from this project area added to the agency's L&M Fund this fiscal year. Any income related to agency-assisted housing located outside the project area(s) should be reported as "Other Revenues" (item 7d, below) if this project area is named as beneficiary in the authorizing resolution. a. Tax Increments: $ 0 b. Debt Proceeds (include bond proceeds): $ 0 • c. Interest: $ 0 d. Other Revenues (e.g., loan repayments, rental income, transfers in, deferral repayments, • property sales); specify: $ 0 e. Total L & M Deposits for this Project Area (a+b+c+d): $ 0 If item 3,above,indicates the agency is setting aside tax increments but$0 is entered in item 7a,above,indicate the reason for that inconsistency: NA Project has not yet generated tax increments. Tax increments are used to pay debt service on debt proceeds added to L&M Fund. Other (explain): • HCD-A 93/94 Page 2 of 6 • _ Agency Name: Arcadia Redevelopment Agency Project Area Name: Central Housing Units Lost and Households Displaced 8. Pursuant to Sections 33080.4(a)(1) and (a)(3), report the number of dwelling units and bedrooms (33413(a)) destroyed or removed from this project area as a result of redevelopment activities; the number of those units the agency is not required to replace;and the income category and type of households displaced from the project area during the fiscal year. (Note that under redevelopment law,-"elderly household" means one in which the head of household is 60 years of age or older, or handicapped, as specifiedin Section 50067.) Household Income Households Households Total No. Lost Number Lost Not and Type Displaced Displaced (Removed or Required to be by Income by Type Destroyed) Replaced Units/Bedrooms Units / Bedrooms Very Low 0 0 / Elderly • Family (non-elderly) Other (not E or F) Low 0 0 / 0 / Elderly Family (non-elderly) Other (not E or F) Moderate 0 0 / 0 / Elderly Family (non-elderly) Other (not E or F) Above Moderate 0 0 / 0 / Elderly Family (non-elderly) Other (not E or F) 9. As required in Section 33080.4(a)(2), estimate the type and number of households, by income category, to be displaced from this project area during the next reporting period (the current fiscal year): Income Level Total Households Subtotal Elderly Subtotal Other Households Households Very Low 0 Low 0 Moderate 0 Above Moderate 0 10. Sections 33413(d)and 33413.5 specify that project areas adopted or amended to add areas after 1975 are required to adopt replacement housing plans at least 30 days prior to entering certain agreements affecting properties from which low-and moderate-income dwelling units will be removed. Other project areas may adopt such plans. NA If the agency has adopted a replacement housing plan for this project area, report the date it was adopted: / / HCD-A 93/94 Page 3 of 6 Agency Name: Arcadia Redevelopment Agency Project Area Name: Central Current Housing Activity 11. Pursuant to Sections 33080.4(a)(4)and (a)(5),report units in this project area assisted by the agency during the reporting period which have occupancy restrictions based on household type or income level. Report any multifamily units for which the agency purchased or otherwise acquired long-term affordability covenants per Section 33413(b)(2)(B). Include information on units located outside redevelopment areas for the benefit of this project area (e.g., replace units lost in this project area, supported by funds from this project area). Report units built or rehabilitated only if the work was completed during the fiscal year. Household Income Built with Rehabbed w/ Acquired by Receiving Affordability and Type Agency Help Agency Help Agency Subsidies Covenants from Agency Acquired by Agency Total Very Low 0 0 0 0 0 Subtotal Elderly Subtotal Other • Total Low 0 0 0 0 0 Subtotal Elderly Subtotal Other Total Moderate 0 0 0 0 0 Subtotal Elderly Subtotal Other Total Above Mod. 0 0 0 0 0 Subtotal Elderly Subtotal Other 12. Indicate how many of the units listed in item 11 are replacements for units previously removed through redevelopment activities, as required in Section 33080.4(a)(4): NA Household Income Built with Rehabbed w/ Acquired by Receiving and Type Agency Help Agency Help Agency Subsidies from Agency Total Very Low Subtotal Elderly Subtotal Other Total Low Subtotal Elderly Subtotal Other Total Moderate Subtotal Elderly Subtotal Other HCD-A 93/94 Page 4 of 6 . Agency Name: Arcadia Redevelopment Agency Project Area Name: Central 13. Report by household income level any units in this project area assisted by the agency during the reporting period which do not have occupancy restrictions based on household type or income level and thus are not reported in item 11. Household Income Built with Rehabbed w/ Acquired by Receiving and Type Agency Help Agency Help Agency Subsidies from Agency Total Very Low 0 0 0 0 Total Low 0 0 0 0 Total Moderate 0 0 0 0 Total Above Mod. 0 0 0 0 14. Report any additional households in this project area assisted by the agency during the fiscal year but not reported in items 11 or 13, and explain the type of program and assistance (e.g., shelter beds, emergency rental assistance). 0 Very low 0 Low 0 Moderate 0 Above Moderate 15. Pursuant to Section 33080.4(a)(10), report the number of dwelling units to be built in the project area per an executed contract or agreement including their estimated completion date. Note that these units may only be reported for a period of two years from the execution date of the contract. Do not report any units shown in items 11 or 13. Name of Contract or Agreement Execution Est. Date of Numbers of Units to be Built Date Completion Total Very Low Low Mod Other NA NA NA NA NA 16. Does the project area contain units which have occupancy or affordability restrictions imposed by agreements or recorded conditions, covenants, and restrictions? X No. Stop here. Complete HCD-B and/or C, as needed. Yes. Pursuant to Sections 33080.4(a)(7) and 33418, provide an inventory of all such restricted housing units in this project area. Did the project area submit an inventory last year? Yes. Use the form on page 6 to report any additions or corrections to last year's inventory. No. Use the form on page 6 (duplicate as needed) to provide the information requested. HCD-A 93/94 Page 5 of 6 Agency Name: Project Area Name: _. Inventory of Housing Units in Project Area with Restrictions on Occupancy or Affordability per Recorded Agreements, or Conditions, Covenants and Restrictions for Fiscal Year Ended / / Project Total No. Units Reserved Units Restricted Units Occupied by Financing/ Earliest Type Project Name/ Owner Name/ Units in for Elderly by Income Only Ineligible Households Subsidy Afford. 9 Address Address Project VL L M AM VL L M AM VL L M Elderly Sources" Term. Date 1 TOTALS: . •Specify Owner or Rental Project •• Abbreviations for financing or subsidy sources: RDA= redevelopment agency HCD =CA Dept.of Housing&Comm.Dev.(specify program) HUD # = Housing and Urban Development construction or rehab.program(list program number) CHFA= Calif.Housing Finance Agency . HUD V or C= HUD Section 8 Voucher or Certificate subsidy,respectively MRB =local Mortgage Revenue Bonds FmHA# = Farmers Home Administration program number(list program number) DB = local Density Bonus provided CDBG = federal Community Development Block Grant PRIV= Private source(e.g.,foundations,corporations) UDAG = federal Urban Development Grant OTH =any other source(explain in a footnote) • HCD-A TAXC = federal Tax Credits Page 6 of.6 SCHEDULE HCD-C Agency-wide Activity - , for Fiscal Year Ended 6 / 3 0 / 9 4 Agency Name: Arcadia Redevelopment Agency Preparer's Name, Title: Dale R. Connors Preparer's Telephone No: (818) 574-5409 Low& Moderate Income Housing Funds Report on the"status and use of the agency's Low and Moderate Income Housing Fund," including information developed to comply with Section 33080.4(a)(6) and (a)(8). Information reported here should be based on that reported to the State Controller. 1. Beginning Balance: $ 0 If Beginning Balance is not the same as the Total Ending Balance reported for the last fiscal year, indicate the amount of, and reason(s) for, the difference: 2. Total Revenues, Other Income and Transfers In: a. Total deposits from project areas:.. $ 0 (Sum of amount(s) from line 7e on Schedule HCD-A(s)) b. Other revenues not reported on Schedule HCD-A(s): $ (Specify: ) c. Operating transfers in (specify: ) S 3. Total Expenditures and Transfers Out: a. Total expenditures: ($ 0 ) 1) Subtotal for onsite/offsite improvements $ 2) Subtotal for planning & admin. costs as [Note: total of subtotals defined in Sections 333343(d) and (e): $ should equal 3a.] 3) Subtotal for acquisition of land $ __ 4) Subtotal for acquisition of housing $ 5) Subtotal for new housing construction $ 6) Subtotal for housing rehabilitation $ 7) Subtotal for housing subsidies $ 8) Subtotal for debt service $ 9) Subtotal for purchase of affordability $ covenants (per 33413(b)(2)(B)) 10) Other (Specify: - $ b. Other transfers out (including to other housing agencies; specify: ) (S ) 4. Total Ending Balance (1+2a+2b+2c-3a-3b): $ 0 a. Amount of line 4 encumbered ("reserved") for written agreements or contracts: ($ ) b. Amount of line 4 unencumbered but designated for specific purposes (Specify: ) ($ ) c. Amount of line 4 representing value of land purchased with L&M funds and/or held for development of affordable housing: (S ) d. Amount of line 4 representing indebtedness for set-asides deferred (per 33334.6) ($ ) e. Amount of line 4 representing loans receivable for housing activities ($ ) f. Amount of line 4 representing total (all years) ERAF loans receivable per 33681 ($ ) g, Other unavailable funds included in line 4 (specify: ) ($ ) 5. Unencumbered, uncommitted balance available for housing activities (4 minus 4a - 4g): $ 0 HCnC 93/94 Page l of 6 Agency Name: Arcadia Redevel-,_ lent• Agency 6. Per Section 33080.4(a)(11) attach to this schedule a summary showing the date and amount of all deposits to and withdrawais from the agency's L&M Fund during the reporting period. Excess Surplus NA 7. a. Agencies are required to report any"excess surplus"(as defined in Section 33334.12) to HCD pursuant to Section 33080.7. An excess surplus exists for a fiscal year if the unencumbered balance in the L&M Fund at year end exceeds the greater of $1,000,000 or the aggregate amount of tax increments deposited into the L&M Fund during the preceding four fiscal years. "Encumbering"means committing funds pursuant to a legally enforceable contract or agreement for expenditure for authorized redevelopment housing activities. For purposes of this surplus calculation, the unencumbered balance may be adjusted to account for bond proceeds and also for conveyances of land for less than fair market value. Per Section 33334.12(g)(3)(A),the agency may subtract from the L&M fund balance the difference between the fair market value and the amount the agency receives when it conveys for less than fair market value land on which low- and moderate-income housing is or will be built with at least 49 percent of the units available at affordable housing cost to lower-income households for at least the time specified in Section 33334.3. Per Section 33334.12(g)(3)(B);if taxes that would have been deposited in the L&M Fund are used as security for bonds or other indebtedness, the agency shall subtract from the unencumbered balance the bond or other debt proceeds included and add in the amounts of taxes that would have been deposited had there been no bond or debt proceeds. Agencies should track each fiscal year's excess surplus, if any,separately. If an agency fails to expend or encumber each fiscal year's excess surplus within one year of that fiscal year, it is required to disburse the remaining excess surplus to the county housing authority,or another public agency exercising housing development powers within the agency's territorial jurisdiction, or expend or encumber the surplus within an additional two years. If after the three years the excess surplus has not been fully expended or encumbered,the agency shall be prohibited from encumbering any funds or expending any moneys from any source, except for specified obligations,until the full amount of the excess surplus plus 50%of the surplus is expended or encumbered. Fill in the following table to calculate and track your agency's excess surplus amounts for each fiscal year beginning with 93/94. Fiscal Total Tax Sum of Tax Unencumbered Excess Surplus Amount Expended Remaining Excess Year Increments Increments in L&M Balance in L&M and Encumbered Surplus, for each Deposited in Fund from Previous Fund at End of FY against Excess FY,as of End of L&M Fund Four FYs Surplus, for each Reporting FY . FY,as of end of . Reporting FY 89-90 90-91 91-92 2-9 9 3 • .................................... b. Did you adjust the unencumbered balance for bond proceeds? Yes No Not Applicable or land sales? Yes No Not Applicable If yes, please describe the amounts and methodology of the adjustments: • c. If you reported an excess surplus for the reporting fiscal year, briefly summarize the agency's plan (authorized in Section 33334.10) for encumbering or expending that amount: • d. If plan described in 7.c was adopted, give adoption date: / / HCDC 93/'94 Page 2 of Agency Name: Arcadia Redeve. vpment Agency Misc. Uses of Funds 8. Per Section 33080.4(a)(6), report the total number of very low-, low-,and moderate-income households directly benefitted by expenditures for onsite/offsite improvements. (If line 3.a.1 of this schedule shows no expenditures for improvements, no units should be reported here.) 0 9. If the agency is holding land for future housing development (such as reported on item 4.c), summarize here the sites held, including acreage, date of purchase, zoning, and anticipated start date for the housing development. Site Name/Location No. of Acres Zoning Purchase Date Est. Housing Comments Start Date NA 10. Section 33334.13 requires agencies which have used the L&M Fund to assist mortgagors in a homeownership mortgage revenue bond program, or home financing program described in that Section, to provide the following information: a. Has your agency used the authority related to definitions of income or family size adjustment factors provided in Section 33334.13(a)? Yes_ No_ Not Applicable X b. Has the agency complied with requirements in Section 33334.13(b)related to assistance for very low-income households equal to twice that provided for above moderate-income households? Yes_ No_ Not Applicable X 11. Section 50835(b) requires agencies to report the use of non-L&M funds for federal HOME or HOPE program support. Has this agency used any funds in this reporting period for this purpose? Yes_ No_ Not Applicable X Set-aside funds used: HOME $ HOPE $ Non-set-aside funds used: HOME $ HOPE $ 12. a. Did the agency borrow from the L&M Fund to make its FY 93/94 transfer to the Educational Revenue Assessment Fund? (If yes, amount should be included in line 4.f, above.) Yes_No_ Not Applicable X b. If yes, specify the amount borrowed for FY 93/94: $ c. If yes,was this indebtedness reported on the Agency's next Statement of Indebtedness? Yes_No_ d. If yes,when was the finding of necessity adopted? (Attach copy.) / / 13. Has the agency completed an affordable housing production plan("AB 315 plan")for all project areas adopted or added to after 1975 as required by Section 33413(b)(4)? Yes _ No_ Not Applicable X If yes, give date of adoption: / / Hmc 93/94 Page 3ofE Agency Name: Arcadia Redevel;;,:vent Agency Units Removed and Replaced 14. Per Sections 33334.5 and 33413(a)redevelopment agencies are responsible for replacing affordable(very low,low,and moderate- income level) units removed or destroyed due to redevelopment activities. The following table allows agencies to provide a historical summary of lost and replaced units,jurisdiction-wide. Did the agency provide a complete summary using this table in last year's report? No. Complete the following table of units lost and replaced. Note that from FY 89/90 forward, the losses and replacements must be reported by income level. X Yes. Use the table to report any additions or corrections to last year's inventory. If none, initial here Fiscal Year,' Total No. Lost No. Lost Not FY(s) in No. Replacement What Income Levels Units/Bedrooms . _ Required.to:he. _ which.. . Units Provided in FY(s)' Replaced Unit(s) this FY Losses Units/Bedrooms Replaced Units/Bedrooms Replaced? 77/78 / / / 78/79 / / / 79/80 / / / 80/81 / / / 81/82 / / / _ 82/83 / / / 83/84 / / / 84/85 / / / (35/86 / / / 86/87 / / _ / 87/88 / / / 88/89 / / / 89/90 VLow / / / Low / / / Mod. / / / 90/91 VLow / / / Low / / / Mod. / / / 91/92 VLow / / / Low / ./ / Mod. / / / 92/93 VLow / / / Low / / / Mod. / " / / 93/94 VLow 0 / ___.. Q____/ / Low 0 / ___0____/ / Mod. 0 / 0 / / 52 52 Totals Cum. T 5 / 5 HCDC 93/94 Page 4 of E • Agency Name: Arcadia Redevc___pment Agency Itiv Programs NA 15. Identify your agency's currently active housing programs by marking the box (and line,where applicable), and write in other programs in the spaces provided,as needed. Summarize the activity for the reporting period by listing the numbers and total amounts of loans or grants, and the numbers and income levels of households served by each program. Program Type, Description # of $$ # of $$ in #. Income Loans Loaned Grants Grants Hshlds Levels Predevelopment Improvements/Infrastructure Acquisition: _Land Housing Other bldg Rehab., Owner: _ Major Minor Rehab., Rental: _Major Minor New construction, Owner: _ Self-help New construction, Rental: _Apts. 2nd units SROs Mobilehome Conversions Ownership assistance: Downpmts MCCs Refinance Renter assistance: _Emergency Household _Project Preservation of at-risk units HCDC 93/94 Page 5 of 6 Agency Name: Arcadia Redeve i1 ment Agency - Whievements i. Please briefly describe one outstanding project, cooperative or partnership financing or development arrangement, or other innovative practice or program used to increase or improve the affordable housing stock during this reporting period. (If you wish to report more than one, please make and attach additional copies of this page.) Name of Project or Program: Contact Person and Telephone Number: Description (No. of units, resident incomes, type and address of structures, services provided, financing arrangements, etc.): • Brief History 'successful aspects, unusual features, lessons learned, problems encountered, etc.): • Resource Needs 17. What additional training, information, authority,or other resources would help your agency more quickly and effectively us( its Low and Moderate Income Housing (L&M) funds to increase, improve, and preserve affordable housing? H 93/94 Page 6 of EXHIBIT "F" Resolution No. ARA-173 (Adopted -'July 20, 1993) A RESOLUTION OF THE ARCADIA REDEVELOPMENT AGENCY DECLARING THAT IT IS UNABLE TO SET ASIDE 20% OR LESS OF ITS 1993-94 TAX INCREMENT FOR LOW/MODERATE INCOME HOUSING DUE TO EXISTING OBLIGATIONS, PROGRAMS, PROJECTS AND ACTIVITIES Available for review in the Redevelopment Agency Offices. Exhibit F , ANNUAL REPORT OF FINANCIAL TRANSACTIONS COVER SHEET TO:STATE CONTROLLER OF COMMUNITY REDEVELOPMENT AGENCIES PAGE I o I 0 • DIVISION OF LOCAL GOVERNMENT STATE USE ONLY FISCAL AFFAIRS COUNTY 1 1 1 1 1 1 1 COMMUNITY REDEVELOPMENT MAILING ADDRESS (PLEASE AFFIX MAILING LABEL AND CORRECT IF NECESSARY) REPORTING UNIT AGENCY NAME 19023000 P. O. BOX 942850 ARCADIA REDEVELOPMENT AGENCY SACRAMENTO,CA 94250-5876 STREET ADDRESS OR P.O.BOX P.O.Box 60 CITY STATE ZIP CODE EXPRESS MAIL ADDRESS: Arcadia Ca. 91006 300 CAPITOL MALL,SUITE 631 PHONE EXTENSION SACRAMENTO,CA.95814 (818) 574-5400 , STATE USE ONLY LOCATION: (STREET ADDRESS) (IF DIFFERENT FROM ABOVE) ?' FISCAL YEAR ENDED BATCH NO 240 West Huntington Drive June 30,1994 CITY STATE ZIP CODE DUE WITHIN SIX MONTHS OF THE REVIEWED Same Ca. 91006 AGENCY'S FISCAL YEAR END AGENCY ORGANIZATION GOVERNING BODY MEMBERSHIP CLEARED X REDEVELOPMENT AGENCY(H&S CODE 33100) BOARD OF SUPERVISORS COMMUNITY DEVELOPMENT COMMISSION X CITY COUNCIL OTHER (H&S CODE 34110) • MEMBERS OF THE GOVERNING BODY REPORT PREPARED (CONTACT PERSON) PHONE- (CONTACT PERSON) BY: Michael K.Chu (310)698-6727 CHAIRPERSON MEMBER STREET ADDRESS Mary B.Young Lance,Soil &Lunghard,CPA's,7200 S.Greenleaf Ave,Ste 280 MEMBER MEMBER CITY STATE ZIP CODE Sheng Chang Whittier Ca. 90602 MEMBER - MEMBER SIG ATU'E 0. E i i CUTIVE DIRECTOR DATE Robert G.Margett lI I , ;41I,L '�� '% MEMBER MEMBER NAME TITLE Barbara D.Kuhn William It.Kelly Executive Director MEMBER MEMBER FIRM NAME INDEPENDENT AUDITOR Dennis A.Lojeski AGENCY OFFICIALS Lance,Soll&Langhard EXECUTIVE OFFICER PHONE CONTACT PERSON PHONE- (CONTACT PERSON) William R.Kelly (818)574-5400 Michael K.Chu - (310)698-6727 1 FISCAL OFFICER PHONE STREET ADDRESS James Dale (818)574-5400 7200 S.Greenleaf Ave.,Suite 280 SECRETARY PHONE CITY STATE ZIP CODE June D.Alford (818)574-5400 Whither Ca. 90602 ■ LC FA 80(REV 7/93) ANNUAL REPORT OF FINANCIAL TRANSACTIONS PROJECT AREA OF COMMUNITY REDEVELOPMENT AGENCIES COVER SHEET PROJECT AREA REPORT PAGE 0 I 1 STATE USE ONLY STATE USE ONLY • PROJECT AREA ID# PLEASE AFFIX LABEL AND CORRECT IF NECESSARY • AGENCY AND PROJECT AREA NAME 19023018 ARCADIA REDEVELOPMENT AGENCY Central Redevelopment Project i Reviewed I Cleared PLEASE PROVIDE A BRIEF DESCRIPTION OF THE ACTIVITIES FOR DATE PROJECT AREA WAS ESTABLISHED THIS PROJECT AREA DURING THE REPORTING YEAR. (MM-DD-YY) (1) 12-26-73 MOST RECENT DATE PROJECT AREA WAS AMENDED. (MM-DD-YY) 2 - - MOST RECENT DATE PROJECT AREA - WAS MERGED. (MM-DD-YY) 3 - - ESTIMATED COMPLETION DATE (YEAR ONLY) 4 2026 ESTABLISHED LIMIT FOR BONDED PLEASE SEE SECTION III INDEBTEDNESS(IFAPPLICABLE). HEALTH AND SAFETY CODE SECTION 33334.1. 5 N/A OF THE ANNUAL REPORT ESTABLISHED LIMIT FOR TAX INCREMENT REVENUES(IF APPLICABLE). HEALTH AND SAFETY CODE SECTION 33333.2 AND 33333.4. 6 $200,000,000 SIZE OF PROJECT AREA IN ACRES. 7 252 PERCENTAGE OF LAND VACANT AT THE INCEPTION OF THE PROJECT AREA HEALTH AND SAFETY CODE SECTION 33320.1 (XX.X%) 8 1.00 % PERCENTAGE OF LAND DEVELOPED AT THE INCEPTION OF TI IE PROJECT AREA. HEALTH AND SAFETY CODE SECTION 33320.1 (XX.X%) 9 99.00 % OBJECTIVES OF THE PROJECT AREA AS SET FORTH IN THE PROJECT 10 R,I,C AREA PLAN. R Residential (ENTER THE APPROPRIATE CODE(S) I =. Industrial IN SEQUENCE AS SHOWN). C = Commercial P a Public 0 = Other LG PA-80(5/90) • ANNUAL REPORT OF FINANCIAL TRANSACTIONS OF COMMUNITY REDEVELOPMENT AGENCIES Pagel 0 13 AUDIT INFORMATION I. WAS THE REPORT PREPARED FROM STATE USE ONLY E A AUDITED FINANCIAL DATA? A.© YES B. n NO AUDIT 1 DID YOU SUBMIT A COPY A.© YES B. n NO OPINION 2 OF THE AUDIT? COMPLIANCE 3 H. INDICATE FINANCIAL AUDIT OPINION A. X UNQUALIFIED B. QUALIFIED OPINION 4 C. ADVERSE D. DISCLAIMER L' E. AUDIT INCOMPLETE EXPECTED COMPLETION DATE: IF THE AUDIT OPINION WAS OTHER THAN UNQUALIFIED,STATE BRIEFLY THE REASON GIVEN III. WAS A COMPLIANCE AUDIT PERFORMED IN ACCORDANCE WITH HEALTH&SAFETY V. IF THE COMPLIANCE AUDIT WAS OTHER THAN CODE SECTION 33080.1 AND THE STATE CONTROLLER'S GUIDELINES FOR UNQUALIFIED,LIST BELOW THE CODE SECTION COMPLIANCE AUDITS? WITH WHICH THE AGENCY WAS NOT IN COMPLIANCE. A.© Yes B. n No COMPLIANCE AUDIT GUIDE SECTION DID YOU SUBMIT A A.© YES B. n NO COPY OF THE AUDIT? r rB R F D I E 1 I II III IV V VI IV. INDICATE COMPLIANCE AUDIT OPINION HEALTH& A.© UNQUALIFIED B. n POSITIVE/NEGATIVE SAFETY CODE (5) NO EXCEPTIONS (SEE GUIDE- (6) Cn POSITIVE/NEGATIVE D. n QUALIFIED LINES FOR WITH EXCEPTIONS COMPLIANCE (7) AUDITS FOR E.n ADVERSE F. n . DISCLAIMER CODE SEC- (8) TIONS.) G.n COMPLIANCE AUDIT EXPECTED COMPLETION DATE (9) INCOMPLETE GOV'T CODE (10) LGI?A 80(REV 7/93) BALANCE SHEET AGENCY NAME ARCADIA REDEVELOPMENT AGENCY PAGE 0 I 4 Fiscal Year Ended June 30,1994 FT FIT I-E 11-1 FE- l ' G CAPITAL DEBT LOW/MODERATE SPECIAL GENERAL GENERAL ASSETS&OTHER DEBITS PROJECTS SERVICE INCOME HOUSING REVENUE/OTHER WNG-TERM FIXED TOTAL FUNDS FUNDS FUNDS FUNDS DEBT (MEMORANDUM ONLY) „.. .,.....................................,.................... CASH&IMPREST CASH 1.0 $ Z995,094 $ - $ - $ - ::::::i:::::::::•::i:i:$ 2995094 . . .................. .....,...........,...........................................................;................. .....:.. :::::::::::::::::::::::,,,:::::::::::::::::„....:;...:;.::•:•:•:•,.•••••••,,,•••••••••••••••••••••• CASH WITH FISCAL AGENT 2.0 - 378180 - - Iiiiiii:i:i:::•::::::i:i:i::.:i:i:i:i:iy::::::::i:i:i::::i:•:::i:•::::::::::::::.::::::::::::::::::::::::::::::•:::::::::::::::::::::::::::::::: ,..._...................:. 378,180 .............................................................................. ....................,........................................................ TAX INCREMENT RECEIVABLE 3.0 - 366,987 - _ - ........................................... . ............... ..... ••••••••••••••••••••••••••••••••••••••• ••••••••••••••••••••••••••••••••••••••••••••••••••• 366,987 ACCOUNTS RECEIVABLE 4.0 - - - - .............................................................................. ....................................... ..................................... ACCRUED INTEREST .;:::::: :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::.:g::::§::?:i:i:i::•:::•:ii:iii:i:.:::::::::iiiii:•:::::i:i RECEIVABLE 5.0 2861 15735 - - 18,596 _ LOANS RECEIVABLE 6.0 - - _ - . ' • • •• •• •••• ••- • ••••••• .. .. . . ... CONTRACTS RECEIVABLE 7.0 - - - - ai:::::::::iiiiIii:::::::::::::::::::::::*:$.::::::::::::::::::::::: - ....................••••••••••••••,,,,,,,••••••••••• LEASE PAYMENTS RECEIVABLE 8.0 - - - - $ .iii.iiii.:::!, UNEARNED FINANCE CHARGE " 9.0 - - - . - - • : : ... DUE FROM CAPITAL PROJECTS FUND 10.0 - - - DUE FROM DEBT SERVICE FUND 11.0 484,668 181092 - - 665760 ..............-......".........—......---.....-• • • DUE FROM LOW/MODERATE .:.:.:.*:.:•:,:.:.:.:•:•:•:•::::::::::•:::;:::::::::::•::::rxi:. :::::,: :::::::::::.:4:::::::;* ::::::::::::::::::::::::::::::::::::::::::•:::,:.::::::::..:x::: :::.:: :::.::......x.x., INCOME HOUSING FUND 12.0 - - - - wm:::::: : DUE FROM SPECIAL ::...::::::::::::::::K:;:::;:::,;::::;:•::::::::::::::::::::::::::::::::::::•:::::::::::::s::::.:*so::::::::::::::::::::::::::::::::W:: REVENUE/OTHER FUNDS 110 - - - - :::::.:•:,:•:•:•:•:•:•:,•,:•:•:•::,:•::•:•:•:•:.:•:•:•:.:,.:.:,:.::......::::::$:::::::::,,,:::•,,:•:•:::::::::,,,,,,,, ::::::::::::::::::::::::::a::.::::: :::::::::::::::::::::::::::::::::: *:•:•::::,,,,,,,,,,,.......,7,—•? :::::::::::::::::::•:::::::::.::::::::::::::•::::::::::::;::::*::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::*::::: INVESTMENTS 14.0 - _ - - :::::::::::::::::::::::::::::::::•:::::::::.:::::::::::::::::::::::::::::::::::fs::::::::•:::::::::::A:::::•:•:•:•:•:•:•:•:•:•:%::•:•:,•,:. ie? N':.c• ::.v?.?:.: ?::r.Q.v.sve:N.V..•:4,1:70•10:'::':: .:::::::::::*:::::::::::::0:::*:::::::::::::::::::::::::::::::::::::: :::::::::::::::::::::::: N::::::::::::: OTHER ASSETS 15.0 - - - - ••••••••••••••••••••••••••••,:•::.:.:4:::::.:.::::::::::::::::::,:::::::::::::::::::::::.:•:::.:.:,,,,,:, ;: r -.-. - INVESTMENT-LAND Vgageringt4::;:ann.ONIROM: HELD FOR RESALE 16.0 6,463,479 > .. • 6,463,479 ALLOWANCE FOR DECLINE IN ••••••••••••••••••••••••••••••••,,,,,,••••••••••••••••••••, ....................................... VALUE OF LAND HELD FOR RESALE 16.1 •••••••••••••••••••••••••••••••••••••••• •••••••••••••••••••••••••••••••••••••••••••••••••••-••••••••••:—. - - -. ... ,.. FIXED ASSETS: LAND, STRUCTURES&IMPROVEMENTS 17.0 ..,::::ii::::.:::::::::::::::::::::::::::::::::::::::::::::i:::::::::::::::::::::::::::::::::::::::::::::::::::::?;:::::i:iiiii:!iiii::::::::::::::::::::::::::::.::::::•::ir.,::::::::::::::::::::::::::::::::§:::.imiii::::::::::::::::: _ ..........................,............ ft - - 4:-.W::::::: :::::=: :::::::::5:::::::::::::::::::::::::::g:::':::::::::::::M::.::::::::::::.: :: ::•:M:::::::i:;.:::::::::::::::::::::::::::::•:::::.:::::::::•:.:: 4ii,.;:::::::::':::,:,::::::4:::.:::::::::::::::':::;::::n':;:':',Y EQUIPMENT 18.0 :;:::::::::::::::::::::::::;:;:;:;W:;:;:;:i.:;::::i5::::;::::::::.;::::;:;:?.:::;:ii ii:::::i:::.::::::.::::::iii::ffigi:nigii:iiiii]:?: :i:.iiiiili;:i.::::::::;:;::;:ii.;:::::;:;:;:;::::.;:;:::;M:ii:.ii::ii - :::::::::::::::::::::::::::::::::::::::::::::::::*:::::::::i::::::::: .. ......:: ...ff...... %..::r..::.:::::.:::...................... .....:.::.: . AMOUNT AVAILABLE IN DEBT SERVICE FUND 19.0 ::::::;:i:::::1:::;:.::::::::::;:::::::RM::::::::::::;:::::::::::::::::::::::::::::::::::::::::M:::::::::Riiii:Iiiii?:::::::C:::::::::;:i.:::::,:::::::::::::::::::::::::::::::::::::::::::::::::::::::::: - 457326 ii.:::iiiii:11:;::::::::::,:::::::::ffiii:::::::::::::::::::::::c::::::::::::::: 457326 AMOUNT TO BE PROVIDED FOR PAYMENT OF LONG-TERM DEBT 200 :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::.:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::*:.:::::::::::.,:::: - 8,232,890 :::::::;:i:::::::::::::::::::::::::::::::::::::::::::::g:::::::::::::::::: 8232890 TOTAL ASSETS&OTHER DEBITS (MUST EQUAL PAGE 04,LINE 40) 21.0 _$ 9,946,102 _$ 941,994 $ - $ - $ 8,690,216 $ - $ 19,578,312 IA;FA 80(REV 5/90) • . . ' ., . 4 .. BALANCE SHEET AGENCY NAME ARCADIA REDEVELOPMENT AGENCY PAGE 0 1 4 • Fiscal Year Ended June 30,1994 FT. Fr) • FE' FIT- FE. Fir 1 G CAPITAL DEBT LOW/MODERATE SPECIAL GENERAL GENERAL . LIABILITIES&OTHER CREDITS PROJECTS SERVICE INCOME HOUSING REVENUE/OTHER LONG-TERM FIXED TOTAL FUNDS FUNDS • FUNDS FUNDS • DEBT ASSETS (MEMORANDUM ONLY) ACCOUNTS PAYABLE 220 $ 4,118 $ - $ - $ - ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: :::::::: :::::•:::::::::::::::::::::::::::::::::::mm.:;.:::.,$ 4118 .........,..f....• INTEREST PAYABLE 23.0 - - - - $ TAX ANTICIPATION NOTES PAYABLE 24.0, - _ - - :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::*::::: :::=::::::::::::::::::::::::::::::::::::::::::::::::E::::::::::::::::;:::•••:::iiik:::::::::::::::::::::::::::::::::::::::::::::::::::::i:::::::::•:i LOANS PAYABLE 25.0 _ - - - - OTHER LIABILITIES 26.0 , DUE TO CAPITAL - :::;:::::;:::;:::;:::*:::::::::::$:::::::*:,:::::;:::::::**::::••:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: PROJECTS FUND 27.0 181,092 484,668 - - 665760 ...._,...,.........,....... DUE TO DEBT SERVICE FUND 28.0 - - - - ...,:•:,••••:,,,,,:•:.:.:.:.:.:.:.:.:::.,.:.,:.:::::::.:.:.:.:-..,..,::::•:•:•:••••:•:•:•::::,,,,,,:•:.:.:.:.::.:•:.:.: - DUE TO LOW/MODERATE INCOME HOUSING FUND 29.0 - - - - ----•••••••••••••••••••-•—•• •••••••••••••••••••••••••• ........................... - . ......_.................. . ........................... .....,.....................,...,............... ...... .......................... ...... DUE TO SPECIAL ••••••••••••••—•-••••••• ""••••••""•"••"""• .......•:....• . REVENUE/OTHER FUND 30.0 - - - - :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::*::::::::::::::::::::::::::::::::::::::::::::::::::::.*:::::::::::::::::::::::::::::: - •. TAX ALLOCATION ••••••••••••••.•••••••••••••••••••••••••••••••••••••••••• ......,.........w............",.......w.w.w........• BONDS PAYABLE 31.0 :::::::::::::::::::::::::::::::::::::::::::::m:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::.:;::::::::::::::::::::::::::.::::;:::::::::::::::::::::::::::::::: 3540000 i:::::::::::::::::::::::::::::::::::::::::::::::::::::::;:::i:i::::M 3540000 ,yt.4-..t4..4:•...t.:-..tt4t...-.44. .......-..F.:4::. ::::::::::::::::"..'"..'.•.:4 .................................................. LEASE REVENUE BONDS/CERTIFI- ::::::::::::::::::::,::::::::::::::::::::::::::::::::::::k:•:•:•:•:•::::. CATES OF PARTICIPATION PAYABLE 32.0 :::::::::::::::::::::::::::::::::::::iiii::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::ii:::::::::::::::::::::::iiiiiiM::::::::::::::::::::::::*::::::::::::::::::::::::::::::::::::::::, - - ......••••••••...„-••.—•••,••• - ,............... _._........ OTHER LONG-TERM DEBT 310 ::::::::::::::::::*::::::::::::::::::::::::::::::::::::::::*:.::::::,::::::::::::::::;K:K::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::*:::::::::::::::::::::::::. . 5,150,216 ::::i:::::::::::g::;:i::::::@E:::,::;:::;:::::::::::::;:;;R::: 5,150216 TOTAL LIABILITIES &OTHER CREDITS 34.0 $ 185,210 $ 484,668 $ $ $ 8690,216 :::::::::::::::::::::::::::::::'::::::::::::::::::::::g::::::::::P:::::: 9,360,094 ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::4:::•,4,,,,,,,,,,,,,,,:•:•:::•:,,,,,,:,,,,,,,,,,:.....:.:•:•:,,,,,,,,,,,,,,:.,:...,.....,.....::.$........,.........:...r...,.......:••,4:...............:.:...:.:.-...-...-.....,.:.,....-......,,,,,,::.•:::::,......,,,,,:•••::,,,,,,,,,,,,,,,,,,,,,:<•:•:,,,,,,,,,,, , EQUITIES ......• ::::::::::::::::::::::::::::::::::::::::::::::::::::::::%:::::::..:::::::::::::::::::::::::::::x::::::::::.,::::::::.:::::::::::::::::::::::•:::•::::.:.::::::::::::::::::::::::::•.:::::*::::::,:::::.:::::::::::::::.::::::::::::::::::•,::::::::•::::::4.:::::§::::::::4::::::::::::::::::::4::*::::::::::::::::::::::::::::::::::::::•::::0:•::::::::::::::::::::::::::::::::::::::::::::::::::::::::z::::::::::::::4::::::::::::::::4z.:::::::::::::,4::::::::::::::::::::::::::::::::s::::::,,,,::::w.y*::::::::,::: INVESTMENT IN GENERAL iiiiii::::::::::iiiii?:i:::::i:iiiMini:::§iiiiii§::•:.;::::!:;•::::::.1::::.:§:lii::::i:i::::.:::i:::::.ig::?;:;:: :iii§::::i•i:i:::;:iiiiMii:•iiiii::?:::.::i:iii:ii:::::::i:::iii:::::::::::: i::::::::::::::::::;:giiiii:::::::.ii:iiiigg:!:.*:::*::::::::::: FIXED ASSETS 35.0 ..;•.;:::::...:*:::::::::::::::::::::::MiiM::;:i:::::4;:::i:f:::::;::::::::::,:5:.::::::::::::::::::::::::x:::::::3:;;:::m:::::::::::§::;:::m::%;::;:::i:i:,:::::::::::::::::::::::§::x:::::§::::;:::i:::K:::::•.:;:•.:;::::;::::::•;:.:*::K::::§:0:::::::.::*::*:::;:;;;::;i:::;:::x:;::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::., $ 4t ...::::ii.$ $ - FUND BALANCE ::*:::•::::::::::::::::::::::::::::::::::::::::::::::::::::::%::::::::::::::::::::::;:::::;:::::::::::::::::::::::::::::::::::*:::::::::::::::::::::::: RESERVED 36.0 $ 6,611,643 $ - .§ - - ,.........................,.......:............::::::::::::::::::::::::42§:::::::, 6,611,643 FUND BALANCE • c:*;:ifg:::::::;*;:::?.;:;:::?::::.;:::::::::::4-::::::::,:::::::::::::::::::-=:::;::::4•::::::::::::::::::::;::::::::::•A::::::: UNRESERVED DESIGNATED 370 3,149,249 457,326 - - : :,,,,,,,,,,,:::::•••:::x::::::::::::::::::,:::::::::::::::::•:•:,,,,,,,;:•:,,,,:,•%:.:•:. 3606575 FUND BALANCE UNRESERVED-UNDESIGNATED 38.0 - - - - - TOTAL EQUITIES (MUST EQUAL PAGE 05,LINE St) 39.0 $ 9,760,892 $ 457,326 ,$ - $ - - $ 10,218,218 TOTAL LIAR.&OTHER CREDITS &EQUITIES _ 40.0 $ 9,946,102 $ 941,994 $ - $ - $ 8,690,216 $ - $ 19,578,312 LC VA 80(REV SOO) INCOME STATEMENT-CONSOLIDATED AGENCY NAME: ARCADIA REDEVELOPMENT AGENCY PAGE I 0 I 5 Fiscal Year Ended June 30,1994 FA— FIT 1 FIT Fr. CAPITAL DEBT LOW/MODERATE SPECIAL PROJECTS SERVICE INCOME HOUSING REVENUE/OTHER TOTAL REVENUES FUNDS FUNDS •FUNDS FUNDS TAX INCREMENT-GROSS • (INCLUDE ALL APPORTIONMENTS) 1.0 $ - $ 2,315,480 $ - $ - $ 2,315,480 SPECIAL SUPPLEMENTAL SUBVENTION 2.0 - - .. - - PROPERTY ASSESSMENTS 3.0 - - - - - SALES&USE TAX 4.0 - - - - - TRANSIENT OCCUPANCY TAX 4.1 - - - - - } INTEREST INCOME 5.0 96,220 46,853 - - 143,073 RENTAL INCOME 6.0 2,400 - - - 2,400 • LEASE INCOME 7.0 - - - - - SALE OF REAL ESTATE 8.0 - - - - GAIN ON LAND • HELD FOR RESALE - 8.1 • - - - - - FEDERAL GRANTS 9.0 - - - - - GRANTS FROM OTHER AGENCIES 10.0 - - - - - • BOND ADMINISTRATIVE FEES 11.0 - - - - - OTHER REVENUES 12.0 357 - - - 357 TOTAL REVENUES 13.0 $ 98,977 $ 2,362,333 $ _ $ - $ 2,461,310 ...... :... , EXPENDITURES ::,,,::••,:1•>..::.�.::.:.:::.::::::::r.:::::::::.::::::.,.::::::.�:::.�:.�:::.�::>:::::::.<.::::::.>.:::.:::::.:::.�.�::::::::::::::::.::::::::.::.�::•:....,.........,...........................................................:...................... ADMINISTRATION COSTS 14.0 467,803 - - - $ 467,803 PROFESSIONAL SERVICES 15.0 328,758 - - - 328,758 PLANNING,SURVEY&DESIGN 16.0 - - - - - REAL ESTATE PURCHASES 17.0 - - - - • - EXPENDITURES SUB-TOTAL (CARRY TO LINE 19) (18.0) $ 796,561 _ $ - $ - _ $ - $ 796,561 •In order to ensure consistency,the amounts reported in the Low and Moderate Income Housing Fund should form the basis for the data reported to the Department of Housing and Community Development on Schedules HCD-A and HCD-C. - LG FA 80(Rev 7/93) . 4 . . INCOME STATEMENT-CONSOLIDATED AGENCY NAME: ARCADIA REDEVELOPMENT AGENCY PAGE I 0 1 5 Fiscal Year Ended June 30,1994 �- �— . 1 A 1 n 1 I_ 1 C CAPITAL DEBT LOW/MODERATE SPECIAL EXPENDITURES(CON'T) PROJECTS SERVICE INCOME HOUSING REVENUE/OTHER TOTAL FUNDS FUNDS •FUNDS FUNDS SUB-TOTAL (FROM LINE 18) , (19.0) $ 796,561 $ - $ - $ - $ 796,561 ACQUISITION EXPENSE 20.0 15,932 - - - 15,932 OPERATION OF ACQUIRED PROPERTY 21.0 1,135 - - - 1,135 RELOCATION COSTS 22.0 - - - - - RELOCATION PAYMENTS 23.0 - - - - - SITE CLEARANCE COSTS 24.0 - - - - - PROJECT IMPROVEMENT/ CONSTRUCTION COSTS 25.0 - - - - - DISPOSAL COSTS 26.0 - - - - - LOSS ON DISPOSITION OF LAND HELD FOR RESALE 26.1 - - - - - DECLINE IN VALUE OF , LAND HELD FOR RESALE 26.2 - - - - - REHABILITATION COSTS 27.0 - - - - - REHABILITATION GRANTS 28.0 - - - - - INTEREST EXPENSE 29.0 - 365,223 - - 365,223 FIXED ASSET ACQUISITIONS 30.0 - - - - - SUBSIDIES TO LOW& MODERATE INCOME HOUSING 31.0 - - - - - (�l DEBT ISSUANCE COSTS 31.1 - - - - - ''',,,____/' OTHER EXPENDITURES INCLUDING PASS THROUGH AND ERAF PAYMENT(S) 32.0 - 121,200 - - 121,200 DEBT PRINCIPAL PAYMENTS: TAX ALLOCATION BONDS&NOTES 33.0 - 65,000 - - 65,000 REVENUE BONDS&CERTIFICATES OF PARTICIPATION 34.0 - - - - - CITY/COUNTY ADVANCES&LOANS 35.0 - 2,038,957 - - 2,038,957 U.S.,STATE,&OTHER LONG-TERM DEBT 36.0 - - - - - TOTAL EXPENDITURES 37.0 $ 813,628 $ 2,590,380 $ - $ - $ 3,404,008 •In order to ensure consistency,the amounu reported in the Low and Moderate Income Housing Fund should four the basis for the data reported to the Department of Housing and Community Development on Schedules HCD-A and IICD-C. LG FA 80(Rev 7/93) INCOME STATEMENT-CONSOLIDATED AGENCY NAME: ARCADIA REDEVELOPMENT AGENCY PAGE 0 1 5 Fiscal Year Ended June 30,1994 - - �-- �- �- . 1k 1 D 1 u l CAPITAL DEBT LOW/MODERATE SPECIAL EXPENDITURES (CON'T) PROJECTS SERVICE INCOME HOUSING REVENUE/OTHER TOTAL FUNDS FUNDS •FUNDS FUNDS EXCESS(DEFICIENCY)REVENUES OVER(UNDER)EXPENDITURES 38.0 $ (714,651) $ (228,047) $ - $ - $ (942,698) OTHER FINANCING SOURCES(USES): PROCEEDS OF LONG-TERM DEBT 39.0 2,038,957 - - - 2,038,957 PROCEEDS OF REFUNDING BONDS 39.1 - - - - - PAYMENT TO REFUNDED BOND ESCROW AGENT 39.2 ( - ) ( - _) ( - ) ( - ) ( - ) ADVANCES FROM CITY/COUNTY 40.0 - 125,580 - - 125,580 '" SALE OF FIXED ASSETS 41.0 - - - - - • MISCELLANEOUS FINANCING SOURCES(USES) 41.1 - - - - - OPERATING TRANSFERS IN 42.0 - - - - - N TAX INCREMENT ENT TRANSFERS (LOW& HOUSING G FUN 42 .1 :>E ........ . .. ......................... - ......................................... - OPERATING TRANSFERS OUT 43.0 ( - ) ( - ) ( - ) ( - ) ( - ) TAX INCREMENT TRANSFERS OUT (LOW&MOD HOUSING FUND) 43.1 ( - ) _( - ) %::::'r :?:?E?::`:>:::>E::is::#`>f`3%:`•::>?'>.:3:::::: :::.( - ) ( - ) TOTAL- OTHER FINANCING SOURCES(USES) 44.0 $ 2,038,957 $ 125,580 $ - $ - $ 2,164,537 EXCESS(DEFICIENCY)OF REVENUES &OTHER FINANCING SOURCES OVER EXPENDITURES&OTHER FINANCING _ USES (LINE 38+LINE 44) 45.0 $ 1,324,306 $ (102,467). $ - $ - $ 1,221,839 EQUITY BEGINNING OF PERIOD 46.0 $ 8,436,586 $ 559,793 $ - $ - $ 8,996,379 ADJUSTMENTS: PRIOR PERIOD ADJUSTMENTS 47.0 - - - - - RESIDUAL EQUITY TRANSFERS 48.0 - - - - - OTHER-(EXPLAIN) 49.0 - - - - - 50.0 - - - - - EQUITY,END OF PERIOD • (MUST EQUAL PAGE 04,LINE 39) 51.0 $ 9,760,892 $ 457,326 $ - $ - $ 10,218,218 •In order to ensure consistency,the amounts reported in the Low and Moderate Income Housing Fund should form the basis for the data reported I to the Department of Housing and Community Development on Schedules HCD-A and HCD-C. t . LGFA 80(Rev 7/93) . ASSESSED VALUATIONS -AND -TAX INCREMENT REVENUES SCHEDULE D-R Agency Name: ARCADIA REDEVELOPMENT AGENCY PAGE 3 1 1 • Fiscal Year Ended June 30,1994 Project Area: ALL PROJECT AREAS ASSESSED VALUATION DATA UA - F T- 1 A 1 B I C�- SECURED UNSECURED TOTAL FROZEN BASE ASSESSED VALUATION 1.0 $ - $ - $ - INCREMENT ASSESSED VALUATION 2.0 $ - $ - $ - TOTAL ASSESSED VALUATION 3.0 $ - $ - $ - TAX INCREMENT REVENUES DISTRIBUTION OF TAX INCREMENT APPORTIONMENTS AMOUNTS PASSED THROUGH PURSUANT TO ACTUAL PAYMENTS I ]B r C MADE BY: AMOUNTS PAID TO TAXING AGENCIES H&S CODE H&S CODE PURSUANT TO: SECTION 33401 SECTION 33676 TOTAL County Agency COUNTY 4.0 $ - $ - $ - $ - $ - CITIES 5.0 - - - - - SCHOOL DISTRICTS • 6.0 - - - - - - COMMUNITY COLLEGE DISTRICTS 7.0 - - - - - SPECIAL DISTRICTS 8.0 - - - - - ALL OTHER AGENCIES 9.0 - - - - - TOTAL PAID TO TAXING AGENCIES 10.0 $ - $ - $ - $ - $ - NT AVAILABLE TAX INCREME LE ::i: 4:i.'i iiiIi::::: .::i:::y:i::}:::t::vv::i?vii: FOR REDEVELOPMENT PURPOSES 11.0 2,315,48() F TOTAL TAX INCREMENT ALLOCATED 12.0 3E> 3 5 2 1 480 AMOUNT INCLUDED ON LINE 11, WHICH WAS PAID INTO THE EDUCATIONAL REVENUE AUGMENTATION FUND $ 121,200 LG FA 80(REV 7/93) SUPPLEMENTAL SCHEDULE SCHEDULE ERAF-P Combined Tax Increment Shift to Educational Augmentation Revenue Fund DNKP REDEVELOPMENT AGENCY ARCADIA REDEVELOPMENT AGENCY PROJECT AREA NAME ALL PROJECT AREAS Total Tax Increment to be shifted to Please answer the following questions IF your the Educational Reenue Augmentation agency borrowed funds to meet this obligation. Fund(ERAF) pursuant to State Department All Code section references are to the California of Finance(DOF) letter dated October 1, 1993 $ 121,200 Health and Safety Code. Funding Sources: Redevelopment Agency: Borrowed from the 20%Set-Aside funds: See Individual Agency Tax Increment $ 121,200 Project Schedules Other Agency Funds. - 1. What percentage of the 1992/93 20%Set-Aside funds were Total Agency Funds $ 121,200 used for the ERAF shift N/A 2. Date of the finding regarding Agency Borrowing: Insufficient other funds N/A From current 20%Low&Moderate Income Housing Funds $ - From Legislative Body - Borrowed from the Legislative Body: Total Borrowed Funds $ - 1. Date of resolution adopted pursuant to Section 33682(c) (1) N/A Total Tax Increment Shift to ERAF $ 121,200 2. Finding pursuant to Section 33681.(b) related to: Existing Indebtedness No other funds • ANNUAL REPORT OF FINANCIAL TRANSACTIONS OF COMMUNITY REDEVELOPMENT AGENCIES PAGE 0 2 ACHIEVEMENT INFORMATION (UNAUDITED) FISCAL YEAR ENDED June 30,1994 AGENCY NAME ARCADIA REDEVELOPMENT AGENCY INDICATE ONLY THOSE ACHIEVEMENTS COMPLETED DURING THE FISCAL YEAR OF THIS REPORT AS A DIRECT RESULT OF THE ACTIVITIES OF THE REDEVELOPMENT AGENCY. ENTER THE AMOUNT OF SQUARE SQUARE FOOTAGE COMPLETED PLEASE PROVIDE A DESCRIPTION OF THE AGENCY'S ACTIVITIES/ FOOTAGE COMPLETED THIS YEAR �- ACCOMPLISHMENTS DURING THE PAST YEAR. USE ADDITIONAL FORMS BY BUILIDNG TYPE AND I A B AS NEEDED. SEGREGATED BY NEW OR NEW PLEASE BE SPECIFIC,AS THIS INFORMATION WILL BE THE BASIS REHABILITATED CONSTRUCTION. CONSTRUCTION REHABILITATED FOR POSSIBLE INCLUSION IN THE PUBLICATION. COMMERCIAL BUILDINGS 1 0 0 INDUSTRIAL BUILDINGS 2 0 0 • PUBLIC BUILDINGS 3 0 0 PLEASE SEE SECTION III OTHER BUILDINGS 4 0 0 OF THE ANNUAL REPORT TOTAL SQUARE FOOTAGE .S 0 0 ENTER THE NUMBER JOBS.... ?yyn CREATED FRO THE ACTIVITIES ::>::�:>::>s»::»>:<�:»::»>::;>:<:>::<::: A i iii$:•}.'n:•y}i.`,b�,:;�yv,.:.•.•:::.•.•:•: FROM ............................. OF THE AGENCY,EITHER {:;.:;�.�..•:.*;�.':xz;�€<'`�v<; ACTUAL OR ESTIMATED I 6 0 :;::,<��•;,.;:;::�::>:;;;:::: ENTER THE APPROPRIATE CODES .}}:;.};};:;t.};•;:.:.:.:.},:•:::.::::.~:::::.~::.~.::.:::::::}::•::::. };4yyFi:is vl jv:}:•}:•}:};i ......t.::}}.FFi.....v.. ..::. O TO INDICATE EACH TYPE OF T ND E rii::j:X:ryYi{S:S: .:ii:.?T:•%;::iiy:i:i COMPLETED PU CILITY THIS YEAR. .., ;.};:fi:J:;::i.}�i�?it{i*�:?•fkiiiiTiii TYPE COMPLETED(A-F ONLY) 7 NA A=UTILITIES C=LANDSCAPING E=STREETS&ROADS B =RECREATION D=SEWER&STORM F=BUS/TRANSIT INCOME STATEMENT AGENCY NAME ARCADIA REDEVELOPMENT AGENCY PAGE 0 I 5 Fiscal Year Ended June 30,1994 PROJECT AREA NAME �—Central Redevelopment Project �— �-- �- I A Fir I— . I G CAPITAL DEBT LOW/MODERATE SPECIAL PROJECTS SERVICE INCOME HOUSING REVENUE/OTHER TOTAL REVENUES FUNDS FUNDS •FUNDS FUNDS TAX INCREMENT-GROSS (INCLUDE ALL APPORTIONMENTS) 1.0 $ - $ 2,315,480 $ - $ - $ 2,315,480 SPECIAL SUPPLEMENTAL SUBVENTION 2.0 - - - - - PROPERTY ASSESSMENTS 3.0 - - - - - SALES&USE TAX 4.0 - - - - - TRANSIENT OCCUPANCY TAX 4.1 - - - - - ,.' INTEREST INCOME 5.0 96,220 46,853 - - - 143,073 RENTAL INCOME 6.0 2,400 - - - 2,400 LEASE INCOME 7.0 - - - - - SALE OF REAL ESTATE 8.0 - - - - - GAIN ON LAND HELD FOR RESALE 8.1 - - - - - FEDERAL GRANTS 9.0 - - - - - GRANTS FROM OTHER AGENCIES 10.0 - - - - - BOND ADMINISTRATIVE FEES 11.0 - - - - - OTHER REVENUES 12.0 357 - - - 357 TOTAL REVENUES 13.0 $ 98,977 $ 2,362,333 $ - $ - $ 2,461,310 - EXPENDITURES .:•n:i'^:•S:! F.w^: ... ...••v:? : :: :. +:{: : Sv: ::T v: 4 .v:•i•::x � nwx : . nn. } x < ,v .> i '.:.r.: :.....: }. v : W ADMINISTRATION COSTS 14.0 467,803 - - - $ 467,803 PROFESSIONAL SERVICES 15.0 328,758 - - - 328,758 PLANNING,SURVEY&DESIGN 16.0 - - - - - REAL ESTATE PURCHASES 17.0 - - - - - EXPENDITURES SUB-TOTAL (CARRY TO LINE 19) (18.0L $ 796,561 _ $ - _ $ - _ $ - $ 796,561 •In order to ensure consistency,the amounts reported in the Low and Moderate Income Housing Fund should form the basis for the data —� re,orted to the Dc arnnent o Housin;and Community Develo meat on Schedules 11CD-A and IICD-C. ' LGFA 80(Rev 7/93) . INCOME STATEMENT AGENCY NAME ARCADIA REDEVELOPMENT AGENCY PAGE M-5-1 Fiscal Year Ended June 30,1994 PROJECT AREA NAME Central Redevelopment Project S 1 t+ , l 1 t' FE. CAPITAL DEBT LOW/MODERATE SPECIAL EXPENDITURES(CON'T) PROJECTS SERVICE INCOME HOUSING REVENUE/OTHER TOTAL FUNDS FUNDS •FUNDS FUNDS SUB-TOTAL (FROM LINE 18) (19.0) $ 796,561 $ - $ - $ - $ 796,561 ACQUISITION EXPENSE 20.0 15,932 - - - 15,932 OPERATION OF ACQUIRED PROPERTY 21.0 1,135 - - - 1,135 RELOCATION COSTS 22.0 - - - - RELOCATION PAYMENTS 23.0 - - - - - SITE CLEARANCE COSTS 24.0 - - - - - PROJECT IMPROVEMENT/ CONSTRUCTION COSTS 25.0 - - - - - DISPOSAL COSTS 26.0 - - - - - LOSS ON DISPOSITION OF LAND HELD FOR RESALE 26.1 - - - - - DECLINE IN VALUE OF LAND HELD FOR RESALE _ 26.2 - - - - - REHABILITATION COSTS , 27.0 - - - - - REHABILITATION GRANTS 28.0 - - - - - INTEREST EXPENSE 29.0 - 365,223 - - 365,223 FIXED ASSET ACQUISITIONS 30.0 - - - - - SUBSIDIES TO LOW& MODERATE INCOME HOUSING 31.0 - - - - - i • DEBT ISSUANCE COSTS 31.1 - - - - - OTHER EXPENDITURES INCLUDING PASS THROUGH AND ERAF PAYMENT(S) 32.0 - 121,200 - - 121,200 DEBT PRINCIPAL PAYMENTS: TAX ALLOCATION BONDS&NOTES 33.0 - 65,000 - - 65,000 REVENUE BONDS&CERTIFICATES OF PARTICIPATION 34.0 - - - - - CITY/COUNTY ADVANCES&LOANS 35.0 - 2,038,957 - - 2,038,957 U.S.,STATE,&OTHER LONG-TERM DEBT 36.0 - - - - - TOTAL EXPENDITURES no $ 813,628 $ 2,590,380 ` $ - $ - $ 3,404,008 f •In order to ensure consisten ,tie amounts reported in the Low and Moderate Income Housing Fund should form the basis for the data reported to the Dep consistency ,the of Housing and Community Development on Schedules HCD-A and I/CD-C. LC FA KU(Rev 7/93) • INCOME STATEMENT AGENCY NAME ARCADIA REDEVELOPMENT AGENCY PAGE 0 I 5 Fiscal Year Ended June 30,1994 PROJECT AREA NAME Central Redevelopment Project 1-7- n7 CAPITAL DEBT DEBT LOW/MODERATE SPECIAL • EXPENDITURES(CON'T) PROJECTS SERVICE INCOME HOUSING REVENUE/OTHER TOTAL FUNDS FUNDS •FUNDS FUNDS EXCESS (DEFICIENCY)REVENUES • OVER(UNDER) EXPENDITURES 38.0 $ (714,651) $ (228,047) $ - $ - $ (942,698) OTHER FINANCING SOURCES(USES): PROCEEDS OF LONG-TERM DEBT 39.0 2,038,957 - - - 2,038,957 PROCEEDS OF REFUNDING BONDS 39.1 - - - - . - • PAYMENT TO REFUNDED BOND . • ' • ESCROW AGENT 39.2 ( - ) ( - ) i - ) ( - ) ( - ) ADVANCES FROM CITY/COUNTY 40.0 - . 125,580 - - 125,580 ._., SALE OF FIXED ASSETS 41.0 - - - - - MISCELLANEOUS FINANCING . SOURCES(USES) 41.1 - - - - - OPERATING TRANSFERS IN 42.0 - - - - ............................................ TAX INCREMENT TRANSFERS IN (LOW&MOD HOUSING FUND) 42.1 I:i::::::MR:r. :1::':1.;11:iggi:::ini:::::::::::::::::::::i:::::::11:::i:i1:1:11n::::::::::::: - ...,........................................ - OPERATING TRANSFERS OUT 43.0 ( - ) ( - ) ( - ) TAX INCREMENT TRANSFERS OUT (LOW&MOD HOUSING FUND) 43.1 ( - ) ( - ) :::::::::::i:::::::::i::::::::::::•;;;::::::::::::::::;::::::::::::::::::::::::: ( - ) ( - ) TOTAL- OTHER FINANCING SOURCES (USES) 44.0 $ 2,038,957 $ 125,580 $ - $ - $ 2,164,537 EXCESS(DEFICIENCY)OF REVENUES . &OTHER FINANCING SOURCES OVER . EXPENDITURES de OTHER FINANCING USES (LINE 38+LINE 44) 45.0 $ 1,324,306 $ (102,467) $ - $ - $ 1,221,839 . _. EQUITY • ,.. ._. BEGINNING OF PERIOD 46.0 8,436,586 559,793 - $ - $ 8,996,379 ADJUSTMENTS: PRIOR PERIOD ADJUSTMENTS. 47.0 - - - - - RESIDUAL EQUITY TRANSFERS 48.0 - - - - - OTHER-(EXPLAIN) 49.0 - - - - - 50.0 • - - - - • - EQUITY,END OF PERIOD . . (MUST EQUAL PAGE 04,LINE 39) _ 51.0 _ $ 9,760,892 $ 457,326 _ $ - $ - _ $ 10,218,218 •In order to ensure consistency,the amounts reported in the Low and Moderate-Income Housing Fund should form the basis for the data reported to the Department of Housing and Community Development on Schedules HCD-A and HCD-C. ',CFA 80(Rev 7/93) , , ., AGENCY LONG-TERM DEBT SCHEDULE A-RP TAX ALLOCATION BONDS, REVENUE BONDS AND CERTIFICATES OF PARTICIPATION PAGE 1 OF 1 AGENCY NAME ARCADIA REDEVELOPMENT AGENCY Fiscal Year Ended June 30,1994 PROJECT AREA Central Redevelopment Project Use a separate column for listing each bond authorization not fully retired. Use additional pages as necessary. C C C CODING BOXES FOR CONTROLLER'S USE ONLY INDICATE TYPE OF DEBT:TAX ALLOCATION Tax Allocation BOND,REVENUE BOND OR CERTIFICATE Refunding TOTAL OF PARTICIPATION Bonds YEAR OF AUTHORIZATION 1.0 1989 . PRINCIPAL AMOUNT AUTHORIZED 1.1 $ 3,780,000 $ - $ - $ - $ 3,780,000 • PRINCIPAL AMOUNT UNISSUED 1.2 - - - - - PRINCIPAL AMOUNT UNMATURED- BEGINNING OF FISCAL YEAR 2.0 3,605,000 - - - 3,605,000 ADJUSTMENTS MADE DURING YEAR (EXPLAIN) 3.0 - - - - . PRINCIPAL AMOUNT ISSUED DURING FISCAL YEAR 4.0 - - - - _ PRINCIPAL AMOUNT MATURED DURING FISCAL YEAR 5.0 ( 65,000 ) ( - ) ( - ) ( ) ` ( 65,000 ) PRINCIPAL AMOUNT DEFEASED DURING FISCAL YEAR 5.1 ( s - ) ( - ) ( - ) ( ) ( ) PRINCIPAL AMOUNT UNMATURED- END OF FISCAL YEAR - 6.0 3,540,000 - - - - 3,540,000 PRINCIPAL AMOUNT IN DEFAULT 6.1 - - - - INTEREST IN DEFAULT 6.2 - - - - . REVENUES PLEDGED AS ADDITIONAL SECURITY EXTENT PURPOSE OF DEBT BY AUTHORIZATION (SPECIFY NATURE OF REVENUE) PLEDGED To refund Tax Allocation Notes,Issue of 1986. All tax Increment of project area. 100 % LGFA 80(REV.5/90) , OTHER LONG-TERM INDEBTEDNESS SCHEDULE B-RP Agency Name: ARCADIA REDEVELOPMENT AGENCY Fiscal Year Ended June 30,1994 Project Area: Central Redevelopment Project USE A SEPARATE COLUMN FOR LISTING EACH BOND AUTHORIZATION NOT FULL RETIRED. USE ADDITIONAL PAGES AS NECESSARY. 11 6 11 7 11 8 11 9 A A A A OTHER LONG TERM INDEBTEDNESS (1.0) CITY/COUNTY STATE U.S. OTHER TOTAL PRINCIPAL AMOUNT UNMATURED- BEGINNING OF FISCAL YEAR 2.0 $ 5,024,635 $ - $ - $ - $ 5,024,635 ADJUSTMENTS MADE DURING YEAR (EXPLAIN) 3.0 - - - - - INTEREST ADDED TO PRINCIPAL 3.1 125,580 - - - 125,580 PRINCIPAL AMOUNT RECEIVED DURING FISCAL YEAR 4.0 2,038,957 - - - 2,038,957 PRINCIPAL AMOUNT MATURED DURING FISCAL YEAR 5.0 ( 2,038,957 ) ( - ) ( - ) J - ) ( 2,038,957 ) PRINCIPAL AMOUNT UNMATURED- END OF FISCAL YEAR 6.0 $ 5,150,215 $ - $ - $ - $ 5,150,215 LGFA 80(REV.5/90) ASSESSED VALUATIONS -AND -TAX INCREMENT REVENUES SCHEDULE D-RP Agency Name: ARCADIA REDEVELOPMENT AGENCY ' PAGE 3 I 1 . Fiscal Year Ended June 30,1994 Project Area: Central Redevelopment Project ASSESSED VALUATION DATA 17:- Ft- FT-- SECURED UNSECURED TOTAL FROZEN BASE ASSESSED VALUATION 1.0 $ 27,573, 439 - $ 9 ,465, 820 - $ 37,039, 259 INCREMENT ASSESSED VALUATION 2.0 $ 219 , 090 , 011 - $ 8 , 207, 131 - $ 227, 297, 142 TOTALASSESSEDVALUATION 3.0 $ 246 , 663 ,450 - $ 17, 672 ,951 - $ 264 ,336 , 401 - TAX INCREMENT REVENUES DISTRIBUTION OF TAX INCREMENT APPORTIONMENTS • AMOUNTS PASSED THROUGH PURSUANT TO ACTUAL PAYMENTS A FT— TT MADE BY: AMOUNTS PAID TO TAXING AGENCIES H&S CODE H&S CODE PURSUANT TO: SECTION 33401 SECTION 33676.. TOTAL County Agency COUNTY 4.0 $ - $ - $ - $ - $ - CITIES 5.0 - - - - - SCHOOL DISTRICTS 6.0 - - - - - — COMMUNITY COLLEGE DISTRICTS 7.0 . - - - ' - - 1. SPECIAL DISTRICTS 8.0 - - - - - • ALL OTHER AGENCIES 9.0 - - - - - TOTAL PAID TO TAXING AGENCIES 10.0 $ - $ - $ - $ - _$ - 'iik•::::,:vi:jii�:v::::iii:•:::iiiir iiiii:isi::{i�ii:::::iiii j}i•iYi i . TAX INCREMENT AVAILABLE �> f��:•::;:�.:<. >: :•;:.,:..;:. •::::.:::>::.K•:::.�:;:<.:;::.�:::::::::::::�•:., FOR REDEVELOPMENT PURPOSES 11.0 .:>:<::<>s:::: #:::;;:<z:: : : <:; :»>:<:::>;:>< :;::z::::<::::z:::;;:>:<a>;>::;::>::»>::>:<•:$ 2,315,480 ALLOCATED 12.0 2,315,480 TOTAL TAX INCREMENT CATED 12 ALL AMOUNT INCLUDED ON LINE 11, WHICH WAS PAID INTO THE EDUCATIONAL REVENUE AUGMENTATION FUND 1$ 121,200 LGFA 80(REV 7/93) A SUPPLEMENTAL SCHEDULE SCHEDULE ERAF- P Tax Increment Shift to Educational Augmentation Revenue Fund DNKP REDEVELOPMENT AGENCY ARCADIA REDEVELOPMENT AGENCY PROJECT AREA NAME Central Redevelopment Project Total Tax Increment to be shifted to Please answer the following questions IF your the Educational Revenue Augmentation agency borrowed funds to meet this obligation. Fund(ERAF) pursuant to State Department All Code section references are to the California of Finance(DOF) letter dated October 1, 1993 $ 121,200 Health and Safety Code. Funding Sources: Redevelopment Agency: Borrowed from the 20%Set-Aside funds: Agency Tax Increment $ 121,200) Other Agency Funds - 1. What percentage of the 1992/93 20%Set-Aside funds were Total Agency Funds $ 121,200 used for the ERAF shift 2. Date of the finding regarding Agency Borrowing: insufficient othtf funds From current 20%Low&Moderate Income Housing Funds $ - From Legislative Body - Borrowed from the Legislative Body: Total Borrowed Funds $ - 1. Date of resolution adopted pursuant to Section 33682(c) (1) Total Tax increment Shift to ERAF $ 121,200 2. Finding pursuant to Section 33681 (b)related to: Existing indebtedness No other funds SCHOOL DISTRICT/COMMUNITY COLLEGE DISTRICT ASSISTANCE SCHEDULE F-RP AGENCY NAME ARCADIA REDEVELOPMENT AGENCY FISCAL YEAR ENDED: June 30, 1994 PROJECT AREA Central Redevelopment Project PURSUANT TO HEALTH & SAFETY SECTION 33080.5(e), PLEASE PROVIDE THE FOLLOWING: AMOUNTS PAID PURSUANT TO PAID TO: HEALTH AND SAFETY CODE SECTION: SCHOOL DISTRICTS COMMUNITY COLLEGES TOTAL 'Standard"pass through • 33401 agreements to school districts 1.0 - Payments,loans,financing,etc.of land, 33445 building,facilities,structures for schools 2.0 - ' Payments to school districts to eliminate 33445.5 overcrowding-capital projects funding only 3.0 '2%growth"monies.This is done only if the 33676(A)(2) district DOES NOT have a 33401 agreement. 4.0 - <r:::`•: : ss> >' <> <EzES <:#:> > <«: :> a<:: ;:?:`<` `# #`r .`:i<: ? < > > ' 3sE�3s'«'• '>'•'#i List all payment to the Educational ;:.:>::�;;;::�•;:s:•::•:;:.•::••::•:::s:•;:;>:•::::::::•:::.�.,•::::::•.,•::::::::•...,:. 33681 Revenue A Fund 5.0 ............. ..:.. . 121200 ................... TOTAL AMOUNTS PAID 6.0 - - 121,200 PURSUANT TO HEALTH & SAFETY SECTION 33080.5(f), PLEASE PROVIDE THE FOLLOWING: THIS SECTION IS APPLICABLE TO THOSE AGENCIES THAT WERE UNABLE TO PAY THE FULL AMOUNT TO THE EDUCATIONAL REVENUE AUGMENTATION FUND(ERAF)AS REQUIRED BY SECTION 33681,AND ADOPTED THE RESULTUION REQUIRED BY SECTION 33682(c). TOTAL AMOUNT TO BE PAID INDEBTEDNESS AS DEFINED: EXISTING INDEBTEDNESS IN CURRENT FISCAL YEAR 33682(a)(1)(A)-Bonds,notes,certificates, debentures,or other oblications 7.0 33682(a)(1)(B)-Loans or moneys advances to the agency... 8.0 33682(a)(1)(C)-Contractual Obligations 9.0 33682(a)(1)(D)-Obligations incurred pursuant to Section 33445 10.0 33682(a)(1)(E)-33334.2 indebtedness 11.0 33682(a)(1)(F)-Operation and administration indebtedness 12.0 33682(a)(1)(G)-Others as noted 13.0 TOTAL 14.0 - - LGFA 80(Rev 7/94) SUPPLEMENTAL TO THE ANNUAL REPORT OF COMMUNITY REDEVELOPMENT AGENCIES The U. S. Bureau of the Census requests the . following information about the fiscal activities of your government for the year ended June :30, 1994. Governments furnishing this information will no longer receive Census Bureau Form F-32, Survey of Local Government Finances. If you have any questions please contact Marion Paddy at the Census Bureau 1-800-242-4523. A. PERSONNEL EXPENDITURES Report your government's total expenditure for salaries and wages during the year, including amounts paid on force account construction projects. zoo $ None B. MORTGAGE REVENUE BOND INTEREST PAYMENTS Indicate the amount of interest paid on mortgage revenue bonds during the year. U20 $ None C. CASH AND INVESTMENTS HELD AT THE END OF THE FISCAL YEAR Report separately for each of the three types of funds listed below, the total cash on hand and on deposit and investments in Federal government, Federal agency, State and local government and non-governmental securities. Report all investments at par value. Include in the sinking fund total any mortgages and notes receivable held as offsets to housing and industrial financing loans. Exclude accounts receivable, value of real property and non-security assets. 1. Sinking funds - Reserves held for redemption woi of long-term debt. $ 378,000 2. Bond funds - Unexpended proceeds from sale of bond W31 issues held pending disbursement. $ 0 2. All other funds - Exclude employee retirement funds. w6I $ 2,995,274 EXHIBIT "I" • Arcadia Redevelopment Agency Financial Statements (June 30, 1994) Available for review in the Redevelopment Agency Offices. Exhibit I E'Elh e • m p D -o 0 n D 6 s m D . n) D U) 73 1l -I U ELI!!o co -D o W •< o — cn CO co C m 70 0 CD I �• m O ° r+ * i m ? 0 Illpi .�:0 o n 0 co q d 3 - 0 n N o g C' 0 ,{ m (D 4 n9 o m . Cfl K > c C' c+'a -•< 03 0 c.o DcDm < 3yo D m 3 co co c7 a a o CO o s iS, ►� 0 . o a� 1Z m c� °' n m cQ < m 0 f7 • r•« cn .< ° �• -0 DJ D Xo -n 13 oo D 1 ft LINI 0 CD ° m a g a c co ° co m a CD w oo �+ c°i o m < m 't a ° •° ° °' Cr° _ n3 c m CD 1 r+ m O c o a 5 �� m C -fi 3 •a 0 •< m D, - m CO 7 Z ca m am 6 ° -o r+ -o 0 7 n� o CD co o a cD o "0 cD _- 0 -I (D 5 •o lik cD 0 < Q * -►• ° cn O m O• 'n r+ o 7o It D m r't m r~ N -a D � m < 3 ° CD ° = 3 CD j- D o > ?o CD CD c - -< > to 0 5.1,) r CD ,r+ m — m co 3 o. CO o ca Cu 7 0 0 I m Dy � o a ° m°' cn • — cn o 0 ° 0 •3m n3i CO • N aa � o °a 3 n co 0 'kk ° < ° D 0 C cn co -_-_, m 7' a -1 rt o CD o CD CD cNn c co m cD '441 CD• CD co�' ,�, o m y -1 3 m n� ca -13 co a- = n) ° Q ,_, co cn ° D �_ -' o cn rt. D• ° CD 5 m o r+ rt 3 CD cD g �; a � � � o m 5 N. ° a m y c m CD CO° ? 03 rri rt 5 p v ,� m• co 0 Z rC cn < cD o o -.7 .. L CD cn. CD -4! cD n ° co a� O ° m j t J .� '+ 13 N CT -p co O p co< _ ..L-4, 0 GD cu rr m + cn a a - C CS, ,-+ m .• t°i'1 m 3 c as noted in 1973 when the Redevelopment Plan was adopted (Section 3.1 - Pgs. 8, 10) and as reflected in recently broadened definitions allowed in State Redevelopment Law (Section 3.2 - Pg. 10). • Statement of Goals and Objectives - Revisits previously adopted Agency goals and objectives adopted in 1973 (Section 4.0 - Pg. 11) and amended in 1984 (section 4.1 - Pg. 12). • Identification of Future Agency Projects - Section 5 of the Plan (Pgs. 12 - 21) describes in some detail future projects the Agency will pursue in the next five years, provides cost estimates for each and itemized which blighting elements (outlined in Section 3 of the Plan) will be alleviated with the completion of each project. The projects listed in Section 5 have been assembled from project lists approved in. 1985 and in 1994. Table No. 2 (Pgs. 15 - 19) provides a complete listing of all proposed projects. Table No. 3 (Pg. 21) is the Agency workplan and budget for the recommended projects during the five year period covered by the Plan. • Housing - Section 6 (Pgs. 22 - 32) is a discussion of the Agency's housing obligations and intended plan of action to fulfill its low and moderate income housing responsibilities over the next five years. . Key elements in the section are summaries of the State Law concerning housing, an accounting of the status of the Housing Set-Aside Fund, a housing financing plan and a list of housing programs the Agency will implement. Table No. 7 provides a projection of the number of housing unit types the Agency will assist over the coming five years. The Implementation Plan can be amended at any time after a noticed public hearing. It must be formally reviewed by the Agency in 2 years. The availability of the Implementation Plan and notice of tonight's public hearing concerning the Plan has been published in the newspaper and posted at four locations within the Project Area as required by law. FISCAL IMPACT: Contained within the Plan are budget figures (Table No. 3 - Pg. 21 for each of the projects the Agency will pursue over the next five years. Briefly, the Agency intends to finance the majority of its future projects using a combination of tax increment revenue cash on hand generated from the Project Area and/or through long term financing mechanisms using tax increment as security. Other revenue sources include land sale proceeds, interest earnings, developer fees, land rents, development participation agreements, etc. RECOMMENDATION: That the Agency open the a public hearing and take input concerning the Plan. That the Agency approve the Five Year Implementation Plan (FY 1994/95 - 1998/99) as and if amended by adopting Resolution No. ARA-175 (Attachment No. 2). A RESOLUTION OF THE ARCADIA REDEVELOPMENT AGENCY APPROVING THE ADOPTION OF A FIVE YEAR IMPLEMENTATION PLAN FOR THE CENTRAL REDEVELOPMENT PROJECT AREA Attachments: No. 1 - Implementation Plan No. 2 - Resolution No. ARA-175 Approved: WI)8C14\ William R. Kelly, Executive Director DRC:dc ■ � /1dGlJ7e/ a t r2ii Gs1 Si'ii7/1/ . L PIM arcadia redevelopment agency A 9 cY 240 west hunts gtvn drive • p.a.box 60021 • arcadia,is 91066.6021 • 818.574.5408 • fax 818447-3309 December 20, 1994 • TO: Arcadia Redevelopment Agency FROM: By:7 Peter P. Kinnahan, Economic Development Administrator ,Prepared by: Dale R. Connors, Redevelopment Project RE: Request for Approval of the Seventh Modification Agreement for the Southside (Gribble) Project SUMMARY: Arcadia Gateway Center Associates, Ltd., the developer/owner of the Southside (Gribble) Project (Site Map, Attachment No. 1) would like to modify the provisions of their loan for that project with First Interstate Bank. As a condition of this Seventh Loan Modification Agreement ("Agreement", Attachment No. 2), First Interstate has requested that the Agency reaffirm its second position to the First Interstate Bank Deed of Trust and consent to the Modification Agreement. Staff recommends approval. DISCUSSION: The Agency has a Deed of Trust recorded on the Southside site. This Deed of Trust is security for the Agency's potential financial participation in the project. Since the issue of whether the Agency can receive any money from the project is as yet undecided, the Deed of Trust needs to remain on the property. The Agency in 1988 approved the subordination of our Deed of Trust to the lender's loan. Mr. Gribble has had several extensions or modifications to his original loan. The lender (First Interstate Bank) has asked for the Agency's formal consent and continued subordination. This is the action before the Agency for approval. The Agreement has been reviewed by Agency Special Counsel and by the Agency Attorney. All parties, including First Interstate, Mr. Gribble, Agency Special Counsel and the City Attorney accept the Agreement. LASER IMAGED /IRA Cow- 'dam. FISCAL IMPACT: None All costs associated with drafting, reviewing and editing the proposed Agreement and the Agency's consent by Agency Special Counsel will be reimbursed by Arcadia Gateway Center Associates prior to execution by the Agency's Executive Director. RECOMMENDATION: That the Arcadia Redevelopment Agency approve the Seventh Modification Agreement between First Interstate Bank and Arcadia Gateway Center Associates, Ltd. and authorize the Executive Director to execute all documents, subject to minor modifications as to form by the Agency Attorney. Attachments: No. 1 - Site Map No. 2 - Draft of the Seventh Modification Agreement Approved: �O ,VII William R. Kelly, Executive Director DRC:dc ■ NE . SOUTHSIDE PROJECT LOCATION MAP izilia . �� P__����� ®° Southside Project . S e� of RHO . I 'Er 0 RHO IR L�®, . a r • Ni.as•r Pr._ • CG RLD ,I I , • i®���>tna "•* ■ RHD /RHD RHO CG `• C•lsrad• •lyd. 1 ; SEVENTH MODIFICATION AGREEMENT THIS SEVENTH MODIFICATION AGREEMENT ("Agreement") , dated as of November 18, 1994, by and between FIRST INTERSTATE BANK OF CALIFORNIA, a California corporation ("Lender") , and ARCADIA GATEWAY CENTRE ASSOCIATES, LTD. , a California Limited Partnership ("Borrower") , is made with reference to the following facts: A. First Interstate Mortgage Company, a California corporation, predecessor in interest to Lender, has heretofore made two loans to Borrower in the respective original principal amounts of $14,505,000 and $7,600,000 (collectively, the "Loans") . B. The documents and instruments evidencing, securing and pertaining to the Loans have been modified and amended, from time to time, the most recent such modifica- tion being that certain Sixth Modification Agreement, executed by Borrower and Lender, dated August 1, 1992, and recorded on September 28, 1992, in the Official Records of Los Angeles County, California (the "Official Records") , as Instrument No. 98-1800316 (the "Sixth Modification") . C. Terms which are used herein but not defined herein shall have the meanings ascribed to them in the Sixth Modification, as modified thereby, except that (1) the term "New Note," as such term is defined in the Sixth Modifica- tion, shall be referred to. herein as the "Note", and (2) the term "Loan Documents" shall include any additional documents and instruments executed in connection with the Sixth Modification. D. Lender and Borrower now desire to modify' the Loan Documents, upon the terms and conditions set forth below. NOW, THEREFORE, in consideration of the mutual promises hereinafter contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Lender and Borrower hereby agree as follows: 1. Maturity Date. As of the Closing Date (as defined herein) , the maturity date of the Loans (i.e. , the date upon which the total unpaid principal balance of the Note and all accrued but unpaid interest thereon shall be due and payable) shall be January 15, 1996. 2. Interest Rate. Interest on the unpaid prin- cipal balance due and owing under the Note shall continue to accrue at the' per annum rate which is equal to two percent (2%) in excess of the Prime Rate, and so long as Borrower is not in default hereunder or under any of the Loan Documents, as modified hereby, the maximum per annum rate at which interest shall accrue under the Note shall continue to be nine percent (9%) . Borrower shall continue to be obligated to make monthly interest payments under the Note (i.e. , in arrears on the first day of each and every month) . J0R14419.A51 283870502 12/06/94 RMJ:kp1 Attachment No. 2 3. Principal Reduction Payments,. On December 1, 1994, Borrower shall make a principal reduction payment to Lender of $60,000. Commencing on January 1, 1995, and on the first day of each month thereafter, through the term of the Loan as modified hereby, Borrower shall make equal monthly principal payments to Lender of $72,000 each. 4. Loan Balances,. Borrower and Lender hereby acknowledge and agree that, as of the date hereof (after deducting the October 1, 1994 and the. November 1, 1994 principal reduction payments of $60,000 each, but without deducting any portion of the Tenant Improvement Funds being paid to Lender in accordance with the terms hereof) , the outstanding principal balance due and owing under the Loan is $19,364,113, and Borrower has no right to borrow, and Lender has no obligation to lend, any amount in excess of said principal balance. 5. Partial Reconveyance. Notwithstanding anything to contrary contained in the Loan Documents, from time to time, until all sums due and payable under the Note have been paid in full and the Deed of Trust has been discharged and fully reconveyed, Lender shall cause the Parcel(s) (as defined herein) to be released from the lien of the Deed of Trust in connection with the Sale or Refinancing (as such terms are defined herein) of each Parcel, upon satisfaction, with respect to each such release, of all the following terms and conditions: a. Borrower is not then in default in the due, prompt and complete performance and observance of any condition, covenantor obligation contained herein, in the Note, in the Deed of Trust or in any of the other Loan Documents, as same are modified hereby; b. Lender has received from Borrower written request for said release, which release shall be in the form of a ten day written notice to Lender, describing which of the Parcels is to be released at that time, together with such other documents and information con- cerning such release as Lender may reasonably request; c. The release of any Parcel shall not (i). result in a disposition of the Property constituting a violation of any ordinance, law or regulation of any public authority relating to the subdivision of real property, or (ii) result in any violation of any ordinance, law or regulation of any public authority relating to the subdivi- sion of real property upon foreclosure by Lender of any remaining portion of the Property; d. That portion of the Property which remains secured by the Deed of Trust and each separate Parcel included therein shall continue to have access to the "common areas" of the Property, together with the right to the use and enjoyment of same, access to a public street or highway and access to necessary public utilities and municipal services; e. Borrower shall deliver written evidence to Lender, in form and substance satisfactory to Lender, that title, to the Parcel being released, is being conveyed subject to the terms and conditions of that certain Declara- tion of Covenants, Conditions and Restrictions and Grant of J0R14419.A51 283870502 2 12/06/94 RMJ:kp1 Easements, recorded on May 10, 1988, in the Official Records, as Instrument No. 88-645206, as amended by that certain Amendment No. 1, recorded on August 9, 1988, in the Official Records, as Instrument No. 88-125804; f. All costs and expenses of Lender asso- ciated with such release (including, but not limited to, attorneys' fees) shall be paid by Borrower; g. Title Insurer shall have issued such title endorsements (to the Policy) as reasonably required by Lender in connection with such release; and h. Borrower shall have paid to Lender, in cash or current, funds, an amount equal to the release price for the Parcel being released as set forth in the Release Price Schedule attached hereto as Exhibit "A". The following terms shall have the following meanings: a. "Parcel" shall mean any one of the following parcels and "Parcels" shall mean collectively all the following parcels: Parcels 1, 2, 3, 5, 6 and 7 in the City of Arcadia, County of Los Angeles, State of California, as shown on Map No. 19433, filed in Book 209, Pages 1 and 2 of Parcel Maps, in the Office of the County Recorder of Los Angeles County. b. "Sale" shall mean, with respect to each Parcel, the consummation of a purchase and sale agreement pursuant to which Borrower has transferred title to the Parcel being released to a bona fide third party purchaser in consideration of the payment of money, and the payment to Lender from the proceeds of such Sale the release price for the Parcel being released as set forth in the Release Price Schedule attached hereto as Exhibit "A". c. "Refinance" shall mean, with respect to each Parcel, the refinancing of that Parcel from a loan secured in whole or in part by a lien on said Parcel, and the payment to Lender from the proceeds of such loan the • release price for the Parcel being released as set forth in the Release Price Schedule attached hereto as Exhibit "A". 6. Release of Parcel 7 (commonly known as the Common Areas) . For no additional consideration, Lender shall cause Parcel 7 to be released from the lien of the Deed of Trust concurrently with the release of that Parcel which, together with previously released Parcels, would result in not less than sixty percent (60%) of the Loan having been repaid in accordance with the terms hereof. 7. . Estoppel Certification/Attornment Agreement. On or before February 1, 1995, and as a condition subsequent hereto, Borrower shall cause those tenants of the Project which lease 3000 square feet or more, as designated by Lender, to execute and deliver to Lender an estoppel certi- ficate and an attornment, non-disturbance and subordination agreement, which certificates and agreements shall be in form and substance acceptable to Lender. 8. Additional Conditions. Borrower shall satisfy all of the conditions set forth below, on or before the Closing Date: J0R14419.A51 283870502 12/06/94 RMJ:kp1 3 (a) Borrower shall execute and deliver to Lender four (4) counterpart originals of this Agreement and the First Interstate Bank of California Arbitration Agree- ment attached thereto, as Rider No. 1; (b) Borrower shall deliver to Lender the written consent to the transactions contemplated by this Agreement of the Arcadia Redevelopment Agency and Gribble, which consents are attached hereto; (c) Borrower shall execute, acknowledge and deliver to Lender a Short Form Modification Agreement, in form and substance acceptable to Lender (the "Short Form Agreement") ; (d) Borrower shall execute and deliver to Lender, and Borrower shall cause Gribble to execute and deliver to Lender, a general release in favor of Lender in form and substance satisfactory to Lender; (e) Borrower shall cause Commonwealth Title Insurance Company ("Title Insurer") to issue such endorse- ments as Lender may reasonably require to its ALTA Loan Policy of Title Insurance No. 87-32086-09 ("Policy") , including, without limitation, CLTA Endorsement No. 110.5 (with only those exceptions acceptable to Lender) and CLTA Endorsement No. 111.7, insuring the priority of the lien of the Deed of Trust as of the Closing Date; (f) Borrower shall pay to Lender, in immediately available funds, an amount which shall bring current all accrued but unpaid interest on the Note as of the Closing Date; (g) Borrower shall pay to Lender, in immedi- ately available funds, the sum of $100,000 representing a portion of the Modification Fee referred to in Paragraph 12 hereof; and (j) Borrower shall cause to be delivered to Lender such additional documents, financing statements, resolutions, certificates, articles of incorporation, bylaws, certificates of good standing, partnership agree- ments, and such other items as Lender may require in order to consummate the transactions contemplated by this Agreement. 9. Hazardous Substance Reaffirmation/Environ- mental Ouestionnaire. Without in any way limiting any other provision of the Loan Documents, as modified hereby, Bor- rower expressly reaffirms, as of the Closing Date, and continuing thereafter (a) each and every representation and warranty in the Loan Documents respecting "Toxic Waste" and "Hazardous Materials", and (b) each and every covenant and indemnity in the Loan Documents respecting "Toxic Waste" and "Hazardous Materials". Furthermore, Borrower hereby acknowledges and agrees that (x) this provision is intended as Lender's written request for information (and Borrower's response thereto) concerning the environmental condition of the Project as required by California Code of Civil Procedure Section 726.5, and (y) each representation and warranty in this Agreement or any of the Loan Documents, as modified hereby (together with any indemnity applicable to a breach of any such representation or warranty) , with respect J0R14419.A51 283870502 4 12/06/94 RMJ:kp1 • • to the environmental condition of the Project, is intended by Lender and Borrower to be an "environmental provision" for purposes of California Code of Civil Procedure Section 736. 10. Closing Date. As used in this Agreement, the Closing Date shall mean the date of recordation of the Short Form Agreement in the Official Records, but in no event shall such date be later than December 9, 1994. 11. Costs. Borrower shall pay on demand all costs and expenses incurred by Lender in connection with the negotiation, documentation, execution and administration of this Agreement including, but not limited to, all title- related costs and attorneys' fees. 12. Modification Fee. On or before the Closing Date, and as a condition precedent hereto, Borrower shall pay to Lender, in cash or current funds, $100,000 of the $194,841 non-refundable modification fee. The remaining $94,841 portion of said fee shall be payable by Borrower on the following dates and in the following amounts: Due Date Amount 1. June 1, 1995 $ 7,841 2. July 1, 1995 $ 9,000 3. August 1, 1995 $ 9,000 4. September 1, 1995 $12,000 5. October 1, 1995 $12,000 6. November 1, 1995 $15,000 7. December 1, 1995 $15,000 8. January 1, 1996 $15,000 Should the Loan be paid in full prior to the Maturity Date (i.e. , prior to January 15, 1996) , however, Borrower shall be relieved of its liability with respect to any installment of the Modification Fee for those months following the month the Loan is so paid (e.g. , assuming the Loan was paid in full on August 15, 1995, Borrower would be relieved of the installments due on September 1, 1995 and thereafter) . Should any payment not be made within ten (10) days from the date same is due, it shall thereafter bear interest at the Default Rate (i.e. , 13% per annum) , and Borrower shall pay a late payment charge of four percent (4%) of the payment overdue, unless waived by Lender. 13. Reaffirmation of Obligations. Borrower hereby ratifies and reaffirms all its obligations, repre- sentations and warranties under the Loan Documents, as modified by this Agreement, agrees to pay the indebtedness evidenced by the Loan Documents according to the terms and provisions thereof, as hereby modified, and agrees to continue to timely provide all information and documentation relating to the Borrower and the Property as required under the Loan Documents, including, for example, the financial information required under the Sixth Modification. Except. J0R14419.A51 283870502 12/06/94 RMJ:kp1 5 ( ) as hereby modified, all of the terms, covenants and provi- sions of the Loan Documents shall remain in full force and effect. Without limiting the generality of the foregoing, Borrower hereby expressly acknowledges and agrees that, as of the date of this Agreement, Borrower does not have any • offsets, claims or defenses whatsoever against any of its obligations under the Note, the Deed of Trust or any of the other Loan Documents. • •14. Waiver of Anti-Deficiency Defenses. In consideration of. Lender's agreements contained herein, including without limitation Lender's agreement to extend the term of the Loan, BORROWER HEREBY ABSOLUTELY AND UNCON- DITIONALLY WAIVES AND FOREVER RELINQUISHES ANY AND ALL OF BORROWER'S RIGHTS AND DEFENSES UNDER CALIFORNIA CODE OF CIVIL PROCEDURE ("CCP") SECTIONS 580d AND 726, AS AMENDED OR RECODIFIED FROM TIME TO TIME, TOGETHER WITH ANY OTHER ANTIDEFICIENCY LAWS WHICH LIMIT, QUALIFY OR REDUCE BORROWER'S OBLIGATIONS UNDER THE LOAN DOCUMENTS, AS MODIFIED . HEREBY. BORROWER HEREBY ACKNOWLEDGES AND AGREES THAT THE FOREGOING WAIVER HAS BEEN MADE FOLLOWING CONSULTATION WITH LEGAL COUNSEL AND THAT BORROWER FULLY UNDERSTANDS THAT, BY VIRTUE OF SUCH WAIVER (a) BORROWER WILL NOT BE ENTITLED TO RAISE CCP SECTION 580d AS A DEFENSE TO ANY DEFICIENCY • JUDGMENT ACTION BROUGHT BY LENDER OR ANY SUBSEQUENT HOLDER OF THE NOTE AGAINST BORROWER WITH RESPECT TO SAID NOTE, FOLLOWING THE EXERCISE OF THE POWER OF SALE CONTAINED IN THE DEED OF TRUST, AND (b) BORROWER WILL NOT BE ENTITLED. TO RAISE THE "ONE ACTION" DEFENSE AFFORDED BY CCP SECTION 726 TO ANY DIRECT ACTION ON THE NOTE BROUGHT BY LENDER PRIOR TO ANY ATTEMPT BY LENDER TO FORECLOSE THE DEED OF TRUST, WHETHER BY JUDICIAL ACTION OR EXERCISE OF THE POWER OF SALE CONTAINED THEREIN OR OTHERWISE. BORROWER FURTHER ACKNOWL- EDGES AND AGREES THAT BORROWER'S LEGAL COUNSEL HAS EXPLAINED TO BORROWER THAT (x) IF CCP SECTION 580d WERE NOT WAIVED, SAID SECTION WOULD LIMIT LENDER'S RIGHT TO RECOVER A DEFICIENCY JUDGMENT AFTER A NON-JUDICIAL FORECLOSURE SALE, AND (y) IF CCP SECTION 726 WERE NOT WAIVED, SAID SECTION, AMONG OTHER THINGS, WOULD REQUIRE LENDER TO EXHAUST ALL OF ITS SECURITY BEFORE A PERSONAL'JUDGMENT MAY BE OBTAINED FOR A DEFICIENCY. THIS PROVISION IS A MATERIAL INDUCEMENT TO LENDER EXECUTING THIS AGREEMENT. BORROWER'S INITIALS: 15. Waiver of Trial by Jury,. BORROWER HEREBY EXPRESSLY, KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVES ANY RIGHTS IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH, THIS AGREEMENT, ANY OF THE LOAN DOCUMENTS, AS MODIFIED HEREBY, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) , OR ACTIONS OF ANY OF THE• PARTIES .TO THIS AGREEMENT. THIS PROVISION IS A MATERIAL INDUCEMENT TO LENDER EXECUTING THIS AGREEMENT. . BORROWER'S INITIALS: • • 16. Compliance with Laws. Borrower hereby repre- sents and warrants that to the best of its knowledge, as of the date hereof, the Project, and the use and operation thereof, are in compliance with all federal, state and local laws, ordinances and regulations affecting same, including, but not limited to, 42 USC 12181-12183 (commonly known as the Americans with Disabilities Act of 1990) . J0R14419.A51 283870502 12/06/94 RMJ:kp1 6 • 17. Authority of Borrower. Borrower hereby represents and warrants that it has full power and authority to execute this Agreement, the general release, and any other documents referred to herein and therein, and to undertake and consummate the transactions contemplated hereby and thereby, and to pay, perform and observe the conditions, covenants and obligations herein and therein contained; and that this Agreement has been duly and validly executed by Borrower and constitutes the legal, valid and binding representations, warranties and obligations of Borrower. 18. Attorneys' Fees. For the purpose of this Agreement and the other Loan Documents, as modified hereby, the terms "attorneys' fees" or "attorneys' fees and costs" shall mean the fees and expenses of counsel to the parties hereto (including, without limitation, in-house counsel employed by Lender) , which may include printing, duplicating and other expenses, air freight charges, and fees billed for law clerks, paralegals, librarians and others not admitted to the bar but performing services under the supervision of an attorney. The terms "attorneys' fees" or "attorneys' fees and costs" shall also include, without limitation, all such fees and expenses incurred with respect to appeals, arbitrations and bankruptcy proceedings, and whether or not any action or proceeding is brought with respect to the matter for which said fees and expenses were incurred. 19. Entire Agreement. This Agreement contains the entire understanding between Lender and Borrower with respect to the subject matter hereof and shall not be amended except by a writing signed by all the parties hereto. 20. Successors and Assians. This Agreement shall be binding upon, and shall inure to the benefit of, Borrower and Lender and their respective successors and assigns. Lender may, at any time and from time to time, without notice' to Borrower, sell, transfer, assign or grant parti- cipations in all or any portion of the Loan, the Note or the Loan Documents, as modified hereby, and Borrower hereby authorizes Lender to forward to any such prospective purchaser, or prospective participant, all documents and information relating to Borrower or the Loan, whether furnished by Borrower or otherwise,. as Lender determines necessary or desirable. 21. Governing Law. This Agreement and the rights and obligations of the parties hereunder, and under the Loan Documents, as modified hereby, shall in all respects be governed by, and construed and enforced in accordance with, the laws of the State of California. Each of the parties hereto hereby irrevocably submits to the exclusive jurisdic- tion of any State of California or Federal court sitting in the City of Los Angeles over any suit, action or proceeding arising out of or related to this Agreement or any of the Loan Documents, as modified hereby. 22. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which, together, shall constitute one and the same instrument. J0R14419.A51 283870502 7 12/06/94 RMJ:kp1 • 23. Headings. The headings in this Agreement are for purposes of reference only and shall not limit or other- wise affect the meaning hereof. • 24: ReTTresentation by Counsel. Borrower has retained counsel to represent it in the transaction contem- plated herein; Borrower has read and understands this Agree- ment and the.general release; Borrower has been advised by . its counsel with respect to its rights and obligations under this Agreement and the general release; and the principle of construction against draftsmen shall have no application in the interpretation of this Agreement or the general release. IN WITNESS WHEREOF, the parties hereto have executed this Seventh Modification Agreement, as of the day and year first hereinabove written. • "Lender" FIRST INTERSTATE BANK OF CALIFORNIA, a California corporation By: Its: • "Borrower" • ARCADIA GATEWAY CENTRE ASSOCIATES, LTD. , a California Limited Partnership • By: Stanley W. Gribble General Partner • • • J0R14419.A51 283870502 8 12/06/94 RMJ:kp1 ARBITRATION RIDER Rider No. l FIRST INTERSTATE BANK OF CALIFORNIA ARBITRATION AGREEMENT • • This ARBITRATION AGREEMENT is attached to and made a part of that certain Seventh Modification Agreement (the "Agreement") dated November 18, 1994, by and between or among FIRST INTERSTATE BANK OF CALIFORNIA (the "Lender") and the other party(ies) .named below. Its execution and delivery is a material inducement and a material part of the bargained for consideration without which the Lender would not have executed the Agreement, and this Arbitration Agreement is binding upon each party executing and deliver- ing it, whether or not any other parties to the Agreement do so. In consideration of the mutual covenants herein contained and for other good and valuable consideration as recited above, each of the parties to this Arbitration Agreement does agree as follows: 1. Arbitration: Reference. (a) Mandatory Arbitration. Any controversy or claim between Borrower and Lender giving rise to, arising out of or relating to the Loan (including, without limita- tion, those arising out of or relating to the Agreement, the Note or any of the other Loan Documents, as modified thereby) , this Arbitration Agreement or any agreements, instruments or documentation relating to or delivered in connection with them and all modifications, extensions and renewals thereof and substitutions therefor (all of which collectively may be referred to as the "Subject Documents") (collectively the "Claim") , including any Claim based on or arising from an alleged 'tort, shall at the request of any party to this Arbitration Agreement be determined by arbi- tration. The arbitration shall be conducted in accordance with the Federal Arbitration Act (Title 9 of the United States Code) , notwithstanding any choice of law provision in .the Subject Documents, under the Commercial Rules of the American Arbitration Association ("AAA") and administered by the AAA, unless otherwise agreed to in writing by all parties. With respect. to a Claim in which the amounts in controversy do not exceed $1,000,000, a single arbitrator • shall be chosen and shall resolve the Claim. The arbitrator shall have authority to render an award up to but not to exceed $1,000,000, including all damages of any kind whatso- ever, including costs, fees and expenses. A Claim involving amounts in controversy exceeding $1,000,000 shall be decided • by a majority vote of a panel of three arbitrators (an "Arbitration Panel") , the determination of any two of the three arbitrators constituting the determination of the Arbitration Panel, provided, however, that all three arbitrators on the Arbitration Panel must actively parti- cipate in all hearings and deliberations. Arbitrators, including any Arbitration Panel, may grant any remedy of relief deemed just and equitable and within the scope of this Arbitration Agreement and may also grant such ancillary J0R14419.A51 • 283870502 • 12/06/94 RMJ:kp1 9 relief as is necessary to make effective any award. The arbitrator(s) shall resolve all Claims in accordance with applicable law, including without limitation thereto, all statutes of limitation. Any controversy concerning whether an issue is arbitrable shall be determined by the arbitra- tor(s) . Judgment upon the arbitration award may be entered in any court having jurisdiction; provided, however, that nothing contained herein shall be deemed to be a waiver by any party that is a bank of the protections afforded to it under 12 U.S.C. S 91 or similar state laws. The institution and maintenance of any action for judicial relief or pursuit of provisional or ancillary remedies shall not constitute a waiver of the right of any party, including the plaintiff, to submit the Claim to arbitration if any other party contests such action for judicial relief. Determinations and awards by an arbitrator or Arbitration Panel (including, without limitation, any determinations regarding the affect or enforcement of the anti-deficiency waivers and/or the waiver of trial by jury contained herein) shall be binding. on all parties and shall not be subject to further review or appeal except as allowed by applicable law. Any arbitration shall be conducted in the city in California which has a regional AAA office and which is nearest Lender's main office, unless otherwise agreed to by all parties. To the maximum extent practicable, the parties shall take any action necessary to require that an arbitration proceeding hereunder be concluded within 180 days of the selection of the arbitrator or Arbitration Panel. The arbitrator or Arbitration Panel shall be empowered to impose sanctions for any party's failure to proceed within the times established herein. (b) Real Property Collateral. Notwithstand- ing the provisions of subparagraph (a) , no Claim shall be submitted to arbitration without the consent of all parties if, at the time of the proposed submission, such Claim arises from or relates to an obligation to the Bank which is secured directly or indirectly and in whole or in part by real property collateral. If all parties do not consent to submission of such a Claim to arbitration, the Claim shall be determined as provided in subparagraph (c) . (c) Judicial Reference. At the request of any party, a Claim which is not submitted to arbitration as provided and limited in subparagraphs (a) and (b) shall be determined by a reference in accordance with California Code of Civil Procedure Section 638 et seq. If such an election is made, the parties shall designate to the court a referee or referees selected under the auspices of the AAA, unless otherwise agreed to in writing by all parties. With respect to a Claim in which the amounts in controversy do not exceed $1,000,000, a single referee shall be chosen and shall resolve the Claim. The referee shall have authority to render an award up to but not to exceed $1,000,000, includ- ing all damages of any kind whatsoever, including costs, fees and expenses. A Claim involving amounts in controversy exceeding $1,000,000 shall be decided by a majority vote of a panel of three referees (an "Referee Panel") , the deter- mination of any two of the three referees constituting the determination of the Referee Panel, provided, however, that all three referees on the Referee Panel must actively participate in all hearings and deliberations. Referees, including any Referee Panel, may grant any remedy or relief deemed just and equitable and within the scope of this J0R14419.A51 283870502 1 O 12/06/94 RMJ:kp1 G Arbitration Agreement and may also grant such ancillary relief as is necessary to make effective any award. The presiding referee of the Referee Panel, or the referee if there is a single referee, shall be a retired judge. Judgment upon the award rendered by such referee(s) shall be entered in the court in which such proceeding was commenced in accordance with California Code. of Civil Procedure Sections 644 and 645. Determinations and awards by a referee or Referee Panel (including, without limitation, any determinations regarding the affect or enforcement of the anti-deficiency waivers and/or the waiver of trial by jury contained herein) shall be binding on all parties and shall not be subject to further review or appeal except as allowed by applicable law. (d) Provisional Remedies. Self-Help and Foreclosure. No provision of this paragraph shall limit the right of any party to this Agreement to exercise self-help remedies such as foreclosure against or sale of any real or personal property collateral or security, or obtaining provisional or ancillary remedies from a court of competent jurisdiction before, after, or during the pendency of any arbitration or other proceeding. The exercise of such a remedy does not waive the right of either party to resort to • arbitration or reference. At the Bank's option, foreclosure under a deed of trust or mortgage may be accomplished either by exercise of power of sale under the deed of trust or mortgage or by judicial foreclosure. 2. Miscellaneous. This Arbitration Agreement constitutes the entire agreement of the parties with respect to the subject matter of dispute resolution, and supersedes all prior and any future discussions, agreements, or provi- sions which are inconsistent in the Subject Documents or otherwise, unless the parties specifically refer to this Arbitration Agreement and agree in writing to terminate or supersede it. This Arbitration Agreement shall survive completion, repayment or termination of the transactions and documents comprising the Subject Documents. This Arbitra- tion Agreement may be amended only in writing and signed by all parties. Neither any arbitrator nor any party shall disclose the content or results of any arbitration hereunder without the prior written consent of all parties, except as required by applicable law, regulation or judicial proceedings. "Lender■ FIRST INTERSTATE BANK OF CALIFORNIA, a California corporation By: Name: Title: J0R14419.A51 283870502 12/06/94 RMJ:kp1 11 "Borrower• ARCADIA GATEWAY CENTRE ASSOCIATES, LTD. , a California Limited Partnership By: Stanley W. Gribble General Partner THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT THAT EITHER PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY CONTROVERSY OR CLAIM BETWEEN OR AMONG THE PARTIES WHICH IS SUBJECT TO THIS AGREEMENT. NOTICE: BY INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE ARISING OUT OF THE MATTERS INCLUDED IN THIS AGREEMENT DECIDED BY NEUTRAL ARBITRATION AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS TO HAVE THE DISPUTE LITIGATED IN A COURT OR JURY TRIAL. BY INITIALING IN THE SPACE BELOW YOU ARE GIVING UP YOUR JUDICIAL RIGHTS TO DISCOVERY AND APPEAL, UNLESS SUCH RIGHTS ARE SPECIFICALLY INCLUDED IN THIS AGREEMENT. IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING TO THIS PROVISION, YOU MAY BE COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL PROCEDURE. YOUR AGREEMENT TO THIS ARBITRATION PROVISION IS VOLUNTARY. THE UNDERSIGNED HAVE READ AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMIT DISPUTES ARISING OUT OF THE MATTERS INCLUDED IN THIS AGREEMENT TO NEUTRAL ARBITRATION. Borrower's Initials Lender's Initials J0R14419.A51 283870502 1 2 12/06/94 RMJ:kp1 A CONSENT OF CADIA REDEVELOPMENT AGENCY The undersigned hereby consents to this Seventh Modification Agreement (the "Agreement") , dated November 18, 1994, between First Interstate Bank of California ("Lender") and Arcadia Gateway Centre Associates, Ltd. ("Borrower") , and hereby acknowledges and agrees, for the express benefit of Lender, that the Deed of Trust, as modified by the Agreement, is and .shall remain prior and superior to the lien or charge of that certain Deed of Trust dated November 10, 1987, executed by Borrower, as trustor, for the benefit of the undersigned, as beneficiary, recorded on November 10, 1987, in the Official Records of Los Angeles County, California, as Instrument No. 87-1802286. Dated: ARCADIA REDEVELOPMENT AGENCY, a Public Body, corporate and politic By: Executive Director J0R14419.A51 283870502 12/06/94 RMJ:kp1 13 CONSENT OF GUARANTOR Stanley W. Gribble ("Guarantor") , hereby ratifies all of his obligations, representations, and warranties as Guarantor under that certain Amended, Restated and Consoli- dated Guaranty, dated September 1, 1992 (the "Guaranty") , and hereby consents to this Seventh Modification Agreement, dated November 18, 1994 (the "Agreement") , by and between First Interstate Bank of California, a California corpora- tion ("Lender") , and Arcadia Gateway Centre Associates, Ltd. , a California Limited Partnership ("Borrower") , and agrees that, as of the date hereof, Guarantor has no off- sets, claims, counterclaims or defenses whatsoever against any of Guarantor's obligations under the Guaranty and further agrees not to hereafter assert any existing offsets, claims, counterclaims or defenses or other causes of action against Lender. Guarantor acknowledges that at the time of its execution of the Guaranty, Guarantor was advised by legal counsel that if a court were ever to rule that Guaran- tor was the Borrower in disguise, the Guarantor would be immediately vested with all of the protection the laws of the State of California furnish borrower's of debt secured by real property, including the protections of California Code of Civil Procedure ("CCP") Sections 580d and 726. With that explicit understanding, Borrower nevertheless waived those protections. Guarantor hereby ratifies all of said waivers and hereby acknowledges and agrees that by virtue of such waivers (a) Guarantor will not be entitled to raise CCP Section 580d as a defense to any deficiency judgment brought by Lender or any subsequent holder of the Note against Guarantor under the Guaranty, following the exercise of the power of sale contained in the Deed of Trust. (as defined in the Agreement) ,• and (b) Guarantor will not be entitled to raise the "one action" defense afforded by CCP Section 726 to any direct action on the Guaranty brought by Lender prior to any attempt by Lender to foreclose the Deed of Trust, whether by judicial action, exercise of the power of sale contained therein or otherwise. Guarantor further acknowledges that the exercise of a nonjudicial sale under the Deed of Trust will result in the destruction of any subrogation, reimbursement or contribution rights which Guarantor may have against Borrower. Guarantor also acknowledges that such exercise by Lender and the consequent destruction of subrogation., reimbursement or contribution rights would constitute a defense to the enforcement of the Guaranty by Lender. With this explicit understanding, Guarantor nevertheless knowingly and voluntarily waives any • right or defense to its obligations under the Guaranty based on Lender's election of any remedy against Borrower, including, but not limited to, the remedy of nonjudicial foreclosure. This Consent of Guarantor is made in addition to and not in' limitation of any of the existing terms and conditions of the Guaranty. Dated as of November 18, 1994 Stanley W. Gribble J0R14419.A51 283870502 12/06/94 RMJ:kp1 14 • EXHIBIT "A" Release Price Schedule 1. Parcel. 1. (commonly known as the Retail Building) : Assessor Parcel No. : 5773-15-49 a. Refinance: The release price for Parcel 1, in the event of a Refinance, shall be 95% of the proceeds from the Refinance, but in no event shall such release price be less than 110% or greater than 120% of an amount equal to 15% of the then outstanding loan amount. b. Sale: The release price for Parcel 1, in the ' event of a Sale, shall be 95% of the Net Sales Proceeds (as defined herein) , but in no event shall such release price be less than 110% or greater than 115% of an amount equal to 15% of the then outstanding loan amount. 2. Parcel 2 (commonly known as Bennigan's Restaurant) : Assessor Parcel No. : 5773-15-50 a. Refinance: The release price for Parcel 2, in the event of a Refinance, shall be 95% of the proceeds from the Refinance, but in no event shall such release price be less than 110% or greater than 120% of an amount equal to 5% of the then outstanding loan amount. b. Sale: The release price for Parcel 2, in the event of a Sale, shall be 95% of the Net Sales Proceeds, but in no event shall such release price be less than 110% or greater than 120% of an amount equal to 5% of the then outstanding loan amount. 3. parcel 3 (commonly known as the Olive Garden Restaurant) : Assessor Parcel No. : 5773-15-51 a. Refinance: The release price for Parcel 3, in the event of a Refinance, shall be 95% of the proceeds from the Refinance, but in no event shall such release price be less than 110% or greater than 120% of an amount equal to 5% of the then outstanding loan amount. b. Sale: The release price for Parcel 3, in the event of a Sale, shall be 95% of the Net Sales Proceeds, but in no event shall such release price be less than 110% or greater than 120% of an amount equal to 5% of the then outstanding loan amount. 4. Parcel 5 (commonly known as the Office Building) : Assessor Parcel No. : 5773-15-53 a. Refinance: The release price for Parcel 5, in the event of a Refinance, shall be 95% of the proceeds from the Refinance, but in no event shall such J0R14419.A51 EXHIBIT "A" 283870502 12/06/94 RMJ:kp1 A-1 i release price be less than 110% or greater than 120% of an amount equal to 35% of the then outstanding loan amount. b. Sale: The release price for Parcel 5, in the event of a Sale, shall be 95% of the Net Sales Proceeds, but in no event shall such release price be less than 115% or greater than 125% of an amount equal to 35% of the then outstanding loan amount. 5. Parcel 6 (commonly known as the CIGNA Building) : Assessor Parcel No. : 5773-15-54 a. Refinance: The release price for Parcel 6, in the event of a Refinance, shall be 95% of the proceeds from the Refinance, but in no event shall such release price be less than 110% or greater than 120% of an amount equal to 40% of the then outstanding loan amount. b. Sale: The release price for Parcel 6, in the event of a Sale, shall be 95% of the Net Sales Proceeds, but in no event shall such release price be less than 110% or greater than 125% of an amount equal to 40% of the,then outstanding loan amount. In the event two (2) or more Parcels are sold or refinanced as part of the same Sale or Refinancing, the amount of the individual release prices shall not change, however, the aggregate amount of the release prices for the multiple parcels shall be the sum of the release prices for each parcel being sold or refinanced not to exceed the sum of their respective maxima. The defined terms used in this Exhibit "A," other than the defined term "Net Sales Proceeds," shall have the meanings ascribed to them in the Agreement to which this Exhibit "A" is attached and made a part of. The defined term "Net Sales Proceeds," with respect to each Parcel, shall mean the Gross Sales Proceeds (as defined herein) less the reasonable and customary costs and expenses incurred in connection with the sale of such Parcel, which costs and expenses may include, but not be limited to, independent third party broker's fees, legal and professional fees, title charges and premiums, recording fees and escrow fees, but which costs and expenses shall in no event exceed 5% of the Gross Sales Proceeds. The defined term "Gross Sales Proceeds," with respect to each Parcel, shall mean the total sales price payable in connection with the sale of such Parcel. J0R14419.A51 EXHIBIT "A" 283870502 12/06/94 RMJ:kpl A-2