City of Culver City, California
City Council Agenda Item Report
RECOMMENDATION:
Staff recommends:
For the Redevelopment Agency: The Culver City Redevelopment Agency review
and approve the Annual State Controller’s Report for Fiscal Year 2007-08 (the
“Annual Report”), submit the Annual Report to the City Council and authorize its
transmittal to the State; and
For the City Council: The City Council receives the Annual Report and files it with
the City Clerk.
BACKGROUND/DISCUSSION:
California Community Redevelopment Law (i.e. Health and Safety Code § 33000 et.
seq.) requires the Agency to file a report that includes an independent audit,
financial statements and housing information with the State Controller’s Office
annually within six months of the end of the Agency’s fiscal year. In Culver City that
submission deadline is December 31 of each year.
The financial audit determines whether the Agency’s financial statements have fairly
presented, in all material respects, its financial position and that the Agency has
complied with applicable laws, regulations and administrative requirements. The
annual audit is conducted by a licensed independent Certified Public Accountant and
is performed in accordance with Government Auditing Standards. This year the
audit was performed by the firm of Mayer Hoffman McCann, PC.
Meeting Date: 12/15/08 Item Number: J-2
AGENDA ITEM: JOINT ITEM - (1) Redevelopment Agency Review and Approval
of the Culver City Redevelopment Agency’s Annual State Controller’s Report for
Fiscal Year 2007-08 and (2) City Council Receipt and Filing of Said Report with the
City Clerk.
Contact Person/Dept.: John Fisanotti Phone Number: (310) 253-5767
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [X] Attachments: [X]
Public Notification: Master E-Mail Notification List (12/10/08).
Department Approval:
Sol Blumenfeld (12/09/08)
City Attorney Approval:
Carol Schwab (by H. Baker) (12/10/08)
Chief Financial Officer Approval:
Jeff Muir (by N. Kimball) (12/10/08)
City Manager Approval:
Jerry Fulwood (12/10/08) City of Culver City, California
City Council Agenda Item Report
The financial statements identify the Agency’s indebtedness, the amount of tax
revenue received, the amount of tax increment paid to taxing entities and other
information required by Section 33080.5 of the Health and Safety Code The
financial statements are prepared by the Agency’s Chief Financial Officer.
The housing information reports on data specified by the State such as: the number
of elderly and non-elderly households, the number of lower income households, the
number of Agency assisted households, the number of rehabilitated units, the status
of the Low- and Moderate-Income Housing Fund and other information that explains
the Agency’s housing activities.
The independent auditor found the Agency to be in compliance with the Health and
Safety Code provisions relating to the Annual State Controller’s Report.
In addition to the financial and housing data, and pursuant to Sections 33080.1 (d),
(e) and (f) of the Health and Safety Code, Attachments 5, 6 and 7 to this report are
also transmitted to the City Council to receive and file.
Although the submission of the report to the State Controller’s Office must be
submitted prior to December 31, 2008, Section 33080.2 of the Health and Safety
Code reserves to the City Council the right to take any action it deems appropriate
on these materials up to and including the first meeting of the City Council which
occurs more than 21 days from the receipt of these materials.
FISCAL ANALYSIS:
There are no additional costs associated with the discussion of this agenda item.
This is an annual requirement that is included in each fiscal year’s work program.
ATTACHMENTS:
1. Housing and Community Development Department Annual Report Forms
(HCD Schedules) for Fiscal Year 2007-08
2. Financial Transactions Report for Fiscal Year 2007-08
3. Financial Audit for Fiscal Year 2007-08 (Includes Audit Compliance Letter
from Mayer Hoffman McCann, PC
4. Blight Progress Report
5. Loan Report
6. Property Report
City of Culver City, California
City Council Agenda Item Report
MOTION:
That the Culver City Redevelopment Agency:
1. Receive and file the Culver City Redevelopment Agency Annual State
Controller’s Report for Fiscal Year 2007-08, in accordance with Health and
Safety Code Section 33080; and
2. Direct staff to submit to the City Council the Annual State Controller’s Report,
pursuant to Section 33080.1 of the Health and Safety Code; and
3. Direct staff to transmit the Annual Report to the State Controller before
December 31, 2008.
That the City Council:
1. Receive the Culver City Redevelopment Agency Annual Report for Fiscal
Year 2007-08 (including the Blight Progress Report, Loan Report and
Property Report. pursuant to Health and Safety Code Section 33080; and
2. File the Annual Report with the City Clerk.
MEETING DATE: 12/15/08
AGENDA ITEM:
JOINT ITEM of the City Council and the Culver City
Redevelopment Agency: Consideration of the Culver City
Redevelopment Agency's Annual State Controller's Report
for Fiscal Year 2007-08.
ATTACHMENTS
Pages
Housing and Community Development 1-59
Department Annual Report Forms
(HCD Schedules) for Fiscal Year 2007-08
2. Financial Transactions Report for 60-90
Fiscal Year 2007-08
3. Financial Audit for Fiscal Year 2007-08 (Includes
Audit Compliance Letter from Meyer Hoffman
McCann, PC 91-129
4. Blight Progress Report 130
5. Loan Report 131
6. Property Report 132-139Department of Housing & Community Development
Division of Housing Policy
Redevelopment Section
18003" Street, Suite 430
Sacramento, C4 95814
The State Controller
Division of Accounting and Reporting
Local Government Reporting Section
3301 C Street. Suite 500
Sacramento, CA 95816
CALIFORNIA DEPARTMENT OF HOUSING AND COMMUNITY DATDOVENT 1
REDEVELOPMENT AGENCY ANNUAL HOUSING ACTIVITY REPORT
FY ENDING: June / 30 / 2008
Agency Name and Address:
Culver City Redevelopment Agency
9770 Culver Boulevard
Culver City, CA 90232
County of Jurisdiction:
Los Angeles
Health & Safety Code Section 33080.1 requires agencies (RDAs) to annually report on their Low & Moderate Income Housing Fund and
housing activities for the Department of Housing and Community Development (HCD) to report on RDAs' activities in accordance with
Section 33080.6.
Please answer each question below. Your answers determine how to complete the HCD report.
1. Check one of the items below to identify the Agency's status at the end of the reporting period:
O New (Agency formation occurred during reporting year. No financial transactions were completed).
Active (Financial and/or housing transactions occurred during the reporting year)
O Inactive (No financial and/or housing transactions occurred during the reportin2 year). ONLY COMPLETE I IIEM 7
0 Dismantled (Agency adopted an ordinance and dissolved itself before start of reporting year). ONLY COMPLETE ITEM 7
2. During reporting year, how many adopted project areas existed? 1 Of these, how many were merged during year? If the agency has one or more adopted project areas, complete SCHEDULE HCD-A for each project area.
If the agency has no adopted project areas, DO NOT complete SCHEDULE HCD-A (refer to next question).
3. Within an area outside of any adopted project area(s): (a) did the agency destroy or remove any dwelling units or displace any
households over the reporting period, (h) does the agency intend to displace any households over the next reporting period, (c) did
the agency permit the sale of any owner-occupied unit prior to the expiration of land use controls over the reporting period, and/or
(d) did the agency execute a contract or agreement for the construction of any affordable units over the next two years?
El Yes (any question). Complete SCHEDULE HCD-B.
0 No (all questions). DO NOT complete SCHEDULE HCD-B (refer to next question).
4. Did the agency's Low & Moderate Income Housing Fund have any assets during the reporting period?
Yes. Complete SCHEDULE HCD-C.
0 No. DO NOT complete SCHEDULE HCD-C.
During the reporting period, were housing units completed within a project area and/or assisted by the agency outside a project area?
1 1 Yes. Complete all applicable HCD SCHEDULES Dl-D7 for each housing project completed and HCD SCHEDULE E.
0 No. DO NOT complete HCD SCHEDULES Dl-D7 or HCD SCHEDULE E.
Specify whether method A and/or B was used to report financial and housing activity information to HCD:
DI A. Forms. All required HCD SCHEDULES A.13, C. D1-D7, and E are attached.
LII B. On-line (http.-herforw.lic...d.cagov/rda . ) "Lock Report" date: HCD SCHEDULES not required.
(lock date is shown under "Adrnin" Area and "Report Change History')
7. To the best of my knowledge: (a) the representations made above and (b) agency information reported are correct.
Date Signature of Authorized Agency Representative
Housing Admi.nistrator
Title .
J_31a1 2535780. .
Telephone Number
• IF NOT REOUIRED TO REPORT, SUBMIT OIVLY A PAPER COPY OF THIS PAGE.
• IF REQUIRED TO REPORT, AND REPORTING BY USING PAPER FORMS (7N PLACE OF REPORTING ON-LINE), SUBMIT
THIS PAGE AND ALL APPLICABLE IICD FORMS (SCHEDULES A-E) WITH A COPY OF AGENCY'S AUDIT.
• IF REPORTING ON-LINE, PRINT AND SUBMIT "CONFIRMATION LETTER" UPON LOCKING REPORT
• MAIL A COPY OF (a) CONFIRMATION LETTER (IF HCD REPORT WAS ELECTRONICALLY FILED) OR (h) COMPLETED
FORMS AND (c) AUDIT REPORT TO BOTH HCD AND THE SCO:
Redevelopment Agency Annual Report - Fiscal Year 2007-2001
HCD-Cover
Cover (7M108)
Page 1 ofb. If project area name has changed, give previous name(s) or number:
S laus on , Sepulveda Overland
ton 31. e ers on
SCHEDULE HCD-A
Inside Project Area Activity
for Fiscal Year that Ended 0 6 / 30 /
2008
Agency Name:
Culver City Redev. Agy.
Project Area Name:
Culver City Redev. . Project
Tevis Barnes
Preparer's Name, Title: Housing Administrator Preparer's E-Mail Address: tevis .barnes@culvercity . or:
Preparer's Facsimile No:
( 310 ) 253-5735
Preparer's Telepho eN0:(3 10 )
253-5780
1.1971
2.1971
3.1975
4.1998
Adopted
GENERAL INFORMATION Component
L Project Area Information
II
a. 1. Year 1' plan for project area was adopted:
2. Year that plan was last amended (if applicable):
Expiration
07;26/2014
12/28/2014
11/25/2018
11/23/2029
3. Was plan amended after 2001 to extend time limits per Senate Bill 211 (Chapter 741, Statutes of 2000? Yes No X
4. Current expiration of plan: / mo day Yr
c. Year(s) of any mergers of the project area:, 19913
Identify former project areas that merged: Al
l
d. Year(s) project area plan was amended involving real property that either:
(1) Added property to plan: 19 9
(2) Removed property from plan:
None
2. Affordable Housing Replacement and/or IncIusionary or Production Requirements (Section 33413).
Pre-1976 project areas not subsequently amended after 1975: Pursuant to Section 33413(d), only Section 33413(a) replacement
requirements apply to dwelling units destroyed or removed after 1995. The Agency can choose to apply all or part of Section
33413 to a project area plan adopted before 1976. If the agency has elected to apply all or part of Section 33413, provide the
date of the resolution and the applicable Section 33413 requirements addressed in the scope of the resolution.
Date: / / Resolution Scope (applicable Section 33413 requirements): mo day yr
N/A
Post-1975 project areas and geographic areas added by amendment after 1975 to pre-1976 project areas: Both replacement and
inclusionary or production requirements of Section 33413 apply.
NOTE:
Amounts to report on HCD-A lines 3a(1), 3b-3f, and 3i. can be taken from what is reported to the State Controller's
Office (SCO) on the Statement of Income and Expenditures as part of the Redevelopment Agency's Financial
Transactions Report, except for the reclassifying of Transfers-In from Internal Funds and the reporting of Other
Sources as discussed below:
Transfers-In from other internal funds: Report the amount of transferred funds on applicable HCD-A,
lines 3a-j. For example, report the amount transferred from the Debt Service Fund to the Housing Fund
for the deposit of the required set-aside percentage/amount by reporting gross tax increment on HCD-A,
Line 3a(1) and report the Housing Fund's share of expenditures for debt service on Ficn-C, Line 4e. Do
not report "net" funds transferred from the Debt Service Fund on HCD-A, Line 3a(3) when reporting debt
service expenditures on HCD-C, Line 4c.
Other Sources: Non-GAAP (Generally Acceptable Accounting Principles) revenues such as from land sales for
those agencies using the Land Held for Resale method to record land sales should be reported on HCD-A Line
3d. Housing fund receipts for the repayment of loan principal should be included on HCD-A Line 3h.
California Redevelopment Agencies —Fiscal Year 2007-2005
HCD-A
Sell A (7)1/08)
Page 1 of 6 Agency Name: Culver City Redevelopment Agency Project Area Na.me: Project Area Housing Fund Revenues and Other Sources
3. Report all revenues and other sources of funds from this project area which accrued to the Housing Fund over the reporting
year. Any income related to agency-assisted housing located outside the project area(s) should be reported as "Other
Revenue" on Line 3j. (of this Schedule A). if this project area is named as beneficiary in the authorizing resolution. Any
other revenue sources not reported on lines 3a.-31., should also be reported on Line 3j.
Enter on Line 3a(1) the full 100% of gross Tax Increment allocated prior to applicable pass through of funds and deductions
for fees (refer to Sections 33401, 33446, & 33676). Compute the required minimum percentage (%) of gross Tax Increment
and enter the amount on Line 3a(2)(A) or 3a(2)(B). Next, report the amount of Tax Increment set-aside before any
exemption and/or deferral (if amount set-aside is less than required minimum (513\ explain the difference). If any amount of
Tax Increment was exempted or deferred, in addition to completing lines 3a(4) and/or 3a(5), comp/etc Line 4 and/or Line 5.
To determine the amount of Tax Increment deposited to the Housing Fund [Line 3a(6)], subtract allowable amounts
exempted [Line 3a(4)] or deferred [Line 3a(5)] from the actual amount allocated to the Housing Fund [Line 3a(3)].
a. Tax Increment:
(1) 100% of Gross Allocation: $ 31,387,713
(2) Calculate only I set-aside amount: either (A) or (B) below:
(A) 20% required by 33334.2 (Line 3a(1) x 20%): $ 6,277,543
(B) 30% required by 33333.10(g) (Line 3a(1) x 30%): S 0
(Senate Bill 211, Chapter 741, Statutes of 2001)
(3) Amount of set-aside (Line 3a(2)) allocated to Housing Fund $ 6,277,543 *
If, pursuant to Section 33334.30, less than the minimum % of Gross Tax
Increment (see 3a(2) above) is being allocated from this project area, identify
the project area(s) contributing the difference. Explain any other reason(s):
(4) Amount Exempted [Health & Safety Code Section 33334.2]
(if there is an amount exempted, also complete question #4, next page): ($ 0 )
(5) Amount Deferred [Health & Safety Code Section 33334.6]
(if there is an amount deferred, also complete question #5, next page):
(6) Total deposit to the Housing Fund [result of Line 3a(3) through 3a(5)]:
$ 6,277,543
b. Interest Income: $ 588,405
c. Rental/Lease Income (combine amounts separately reported to the SCO):
d. Sale of Real Estate:
e. Grants (combine amounts separately reported to the SCO):
f. Bond Administrative Fees:
g. Deferral Repayments (also complete Line 5c(2) on the next page):
h. Loan Repayments:
i. Debt Proceeds:
j. Other Revenue(s) [Explain and identify amount(s)]:
Charges $ 70,500
70,500
k. Total Project Area Receipts Deposited to Housing Fund (add lines 3a(6). through 3j.):
6. 936 ,538
California Redevelopment Agencies —Fiscai Year 2007-2008
HCD-A
S eh A (7/1/08)
Page 2 of 6
_s_Agency Name: Project Area Name: Exemption(s)
4. a. If an exemption was claimed on Page 2, Line 3a(4) to deposit less than the required amount, complete the following information:
Check only one of the Health and Safety Code Sections below providing a basis for the exemption:
El] Section 33334.2(a)(1): No need in community to increase/improve supply of lower or moderate income housing.
Section 33334.2(a)(2): Less than the minimum set-aside % (20% or 30%) is sufficient to meet the need.
Cil Section 33334.2(a)(3): Community is making substantial effort equivalent in value to minimum set-aside % (20% or 30%)
and has specific contractual obligations incurred before May 1, 1991 requiring continued use of this funding.
Note: Pursuant to Section 33334.2(a)(3)(C), this exemption expired on June 30, 1993 but]
contracts entered into prior to May 1, 1991 may not be subject to the exemption sunset.
El Other: Specify code section and reason(s): b. For any exemption claimed on Page 2, Line 3a(4) and/or Line 4a above, identify:
Date that initial (In finding was adopted: / / Resolution # Date sent to HCD: / / mo day yr
mo day yr
Adoption date of re / / Resolution # Date sent to HCD: / / trio day yr
mo day yr
Deferral(s)
5. a. Specify the authority for deferring any set-aside on Line 3a(5). Check only one Health and Safety Code Section boxes:
El Section 33334.6(d): Applicable to project areas approved before 1986 in which the required resolution was sent to HCD
before September 1986 regarding needing tax increment to meet existing obligations. Existing obligations can include those
incurred after 1985, if net proceeds were used to refinance pre-1986 listed obligations.
Note: The deferral previously authorized by Section 33334.6(e) expired. It was only
allowable in each fiscal year prior to July 1, 1996 with certain restrictions.
111 Other: Specify code Section and reason:
b. For any deferral claimed on Page 2, Line 3a(5) and/or Line 5a above, identify:
Date that initial (r) finding was adopted: / / Resolution #
mo day yr
Adoption date of reporting year finding: Resolution #
mo day yr
Date sent to HCD: / / mo day •yr
Date sent to HCD: / / mo day yr
c. A deferred set-aside pursuant to Section 33334.6(d) constitutes indebtedness to the Housing Fund. Summarize the amount(s)
of set-aside deferred over the reporting year and cumulatively as of the end of the reporting year:
Fiscal Year
Amount Deferred
Amount of Prior
Deferrals Repaid
During Reporting FY
Cumulative Amount
Deferred (Net of Any
Amount(s) Repaid) This Reporting FY
(1) Last Reporting FY $
(2) This Reporting FY
* The cumulative amount of deferred set-aside should also be shown on HCD-C, Line 8a.1
If the prior FY cumulative deferral shown above differs from what was reported on the last HO) report (HCD-A and
HCD-C), indicate the amount of difference and the reason:
Difference: $
Reason(s):
California Redevelopment Agencies— Fiscal Year 2007-2008
HCD-A
Sch A (7/1/08)
Page 3 of 6
11Agency Name: Culve
r Ci ty Re de v Agy
Deferral(s) (continued)
5.
Project Area Name: Culver City Redev,
. Project
d. Section 33334.6(g) requires any agency which defers set-asides to adopt a plan to eliminate the deficit in subsequent years.
If this agency has deferred set-asides, has it adopted such a plan? Yes I No Ei
If yes, by what date is the deficit to be eliminated? 11 / 25 / 2028
mo day yr
If yes, when was the original plan adopted for the claimed deferral? 06 / / 19 85
me day yr
Identify Resolution # lT notion Date Resolution sent to HCD / / me day yr
When was the last amended plan adopted for the claimed deferral? 06 / /2006
mo day yr
Identify Resolution # BY MCti. an Date Resolution sent to HCD / / mo day yr
Actual Project Area Households Displaced and Units and Bedrooms Lost Over Reporting Year:
6. a. Redevelopment Project Activity. Pursuant to Sections 33080.4(a)(1) and (a)(3), report by income category the number of
elderly and nonelderly households permanently displaced and the number of units and bedrooms removed or destroyed, over
the reporting year, (refer to Section 33413 for unit and bedroom replacement requirements).
Number of Households/Units/Bedrooms
Project Activity
VL ' L M AM Total
Households Permanently Displaced - Elderly|10 10|Households Permanently Displaced - Non Elderly
3 3
Households Permanently Displaced -Total 3 3
Units Lost (Removed or Destroyed) and Required to be Replaced
Bedrooms Lost (Removed or Destroyed) and Required to be Replaced
_
Above Moderate Units Lost That Agency is Not Required to Replace|1010|Above Moderate Bedrooms Lost That Agency is Not Required to Replace
. Other Activity. Pursuant to Sections 33080.4(a)(1) and (a)(3) based on activities other than the destruction or removal of
dwelling units and bedrooms reported on Line 6a, report by income category the number of elderly and nonelderly households
permanently displaced over the reporting year:
Number of Househ I
Other Activity
VL L M AM Total
Households Permanently Displaced - Elderly|10 10|Households Permanently Displaced - Non Elderly|10 10|Households Permanently Displaced - Total
c. As required in Section 33413.5, identify, over the reporting year, each replacement housing plan required to be adopted
before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households
reported on lines 6a. and 6b
Date / / MO day yr
Date / / mo day yr
Name of Agency Custodian
Name of Agency Custodian
Please attach a separate sheet of paper listing any additional housing plans adopted. I
California Redevelopment Agencies — Fiscal Year 2007-2008
HCD-A
Sch A (7/1/08)
Page 4 of 6Culver City. Redev, Agy
Agency Name: Culver City Redev. Project
Project Area Name:
Estimated Project Area Households to be Permanently Displaced Over Current Fiscal Year:
7. a. As required in Section 33080.4(a)(2) for a redevelopment project of the agency, estimate, over the current fiscal year, the
number of elderly and nonelderly households, by income category, expected to be permanently displaced. (Note: actual
displacements will be reported for the next reporting year on Line 6).
Number of Households
N/A
Project Activity VL L M AM Total
Households Permanently Displaced - Elderly
Households Permanently Displaced - Non Elderly
Households Permanently Displaced - Total
b. As required in Section 33413.5, for the current fiscal year, identify each replacement housing plan required to be adopted before
the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported in 7a.
Date / / mo day yr
Date / / mo day yr
Name of Agency Custodian
Name of Agency Custodian
IPlease attach a separate sheet of paper listing any additional housing plans adopted. I
Units Developed Inside the Project Area to Fulfill Requirements of Other Project Area(s1
8. Pursuant to Section 33413(b)(2)(A)(v), agencies may choose one or more project areas to fulfill another project area's requirement to
construct new or substantially rehabilitate dwelling units, provided the agency conducts a public hearing and finds, based on
substantial evidence, that the aggregation of dwelling units in one or more project areas will not cause or exacerbate racial, ethnic, or
economic segregation.
Were any dwelling units in this project area developed to partially or completely satisfy another project area's requirement to
construct new or substantially rehabilitate dwelling units?
El No.
Yes. Date initial finding was adopted? / / Resolution if Date sent o HCD: / / N/A
mo day yr
mo day yr
Number of Dwe ling Units
Name of Other Project Area(s)
VL
Total
California Redevelopment Agencies — Fiscal Year 2007-2008
HCD-A
Sch A (7/1/08)
Page 5 of 6a. Sales. Did the agency permit the sale of any owner-occupied units during the reporting year?
M No
0Yes t 1<— Total Proceeds From Sales Over Reporting Year
.9
Number of Units
SALES VL L M Total.
Units Sold Over Reporting Year
Agency Name:
Culver City Re de v Agy
Project Area Name: Culver City Redev. Project
Sales of Owner-Occupied Units Inside the Project Area Prior to the Expiration of Land Use Controls
9. Section 33413(c)(2)(A) specifies that pursuant to an adopted program, which includes but is not limited to an equity sharing program,
agencies may permit the sale of owner-occupied units prior to the expiration of the period of the land use controls established by the
agency. Agencies must deposit sale proceeds into the Low and Moderate Income Housing Fund and within three (3) years from the
date the unit was sold, expend funds to make another unit equal in affordability, at the same income level, to the unit sold.
b. Equal Units. Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years?
No
ElYes
Affordable Units to be Constructed Inside the Project Area Within Two Years
W. Pursuant to Section 33080.4(a)(10), report the number of very low, low, and moderate income units to be financed by any federal,
state, local, or private source in order for construction to be completed within two years from the date of the agreement or contract
executed over the reporting year. Identify the project and/or contractor, date of the executed agreement or contract, and estimated
completion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on
HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two years from the
reporting year's agreement or contract date.
N/A
DO NOT REPORT ANY UNITS ON THIS SCHEDULE A THAT ARE REPORTED ON OTHER HCD-As, B, OR Ds. I
Cot A
Col B
Col C Col D Col E
VL L M Total
Name of
Project and/or
Contractor
Agreement
Execution
Date
Estimated
Completion Date
(w/in 2 yrs of Col B)
Sch C Amount
Encumbered
[Line Ga]
Sch C Amount
Designated
[Line 7a]
$ $
$ $
$ $
Please attach a separate sheet of paper to list additional information.]
$
<— Total LMIHE Spent On Equal Units Over
Reporting Year
Number of Units
SALES VL L M Total
Units Made Equal This Reporting Yr to Units Sold Over This Reporting Yr
Units Made Equal This Reporting Yr to Units Sold One Reporting Yr Ago
Units Made Equal This Reporting Yr to Units Sold Two Reporting Yrs Ago
Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago
California Redevelopment Agencies — Fiscal Year 2007-2008
HCD-A
Sch A (7/1/08)
Page 6 of 6SCHEDULE HCD-B
Outside Project Area Activity
for Fiscal Year Ended 0 6 / 30
200 8
Agency Name: Culver City Re de v Agy.
Project Name:
Culver Ci ty Redev. . P roj e c t
Tevis Barnes
Prepares Name, Title: Hous
ing Adminis tr at o
*reparer's E-Mail Address:
tevis .barnes@culvercity -org
prepare s Teleph,,n, ( 3 10 ) 253-5780
Preparer's Facsimile No: (
310 ) 2535785
Actual Households Displaced and Units and Bedrooms Lost Outside of Project Area(s) Over Reporting Year
1. a. Redevelopment Project Activity.
Pursuant to Sections 33080.4(a)(I) and (a)(3), report by income category the number of
elderly and nonelderly households permanently displaced and the number of units and bedrooms removed or destroyed, over the
reporting year, (refer to Section 33413 for unit and bedroom replacement requirements).
Number of Househobrls/Units/Bedrooms
Activity
VL AM Total
Households Permanently Displaced — Elderly
Households Permanently Displaced - Non Elderly
Households Permanently Displaced — Total
Units Lost (Removed or Destroyed) and Required to be Replaced
Bedrooms Lost (Removed or Destroyed) and Required to be Replaced
Above Moderate Units Lost That Agency is Not Required to Replace
Above Moderate Bedrooms Lost That Agency is Not Required to Replace
b. Other Activity.
Pursuant to Sections 33080.4(a)(1) and (a)(3) based on activities other than the destruction or removal of
dwelling units and bedrooms reported on Line la, report by income category the number of elderly and nonelderly households
permanently displaced over the reporting year.
N/A
Activity
VL L M AM Total
Households Permanently Displaced Elderly
Households Permanently Displaced - Non Elderly
Households Permanently Displaced — Total
c. As required in Section 33413.5, identify, over the reporting year, each replacement housing plan required to be adopted before
the permanent displacement, destruction, and/or removal of dwelling units and/or bedrooms impacting the households reported
on lines Ia. and lb.
Date / / mo day yr
Date / / mo day yr
Name of Agency Custodian
Name of Agency Custodian
Please attach a separate sheet of paper listing any additional housing plans adopted. I
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-B
Sch B (711108)
Page 1 of 2Culver City
Agency Name: HCD B (Outside Project Area)
Estimated Households Outside of Project Area(s) to be Permanently Displaced Over Current Fiscal Year:
2. a. As required in Section 33080.4(a)(2) for a redevelopment project of the agency, estimate, over the current fiscal year. the
number of elderly and nonelderly households, by income category, expected to be permanently displaced. (Note: actual
displacements will be reported for the next reporting year on Line 1).
Estimated Permanent Displacements
N/A
Activity
VL L M AM Total
Households Permanently Displaced - Elderly
Households Permanently Displaced - Non Elderly
Households Permanently Displaced - Total
b. As required in Section 33413.5, for the current fiscal year, identify each replacement housing plan required to be adopted before
the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported on 2a.
Date / / Name of Agency Custodian
mo day yr
Date / mo day yr
Name of Agency Custodian
Please attach a separate sheet of paper listing any additional housing plans adopted. I
Sales of
Owner-Occupied Units Outside of Project Area(s) Prior to the Expiration of Land Use Controls
3. Section 33413(e)(2)(A) specifies that pursuant to an adopted program, which includes but is not limited to an equity sharing program,
agencies may permit the sale of owner-occupied units prior to the expiration of the period of the land use controls established by the
agency. Agencies must deposit sale proceeds into the Low and Moderate Income Housing Fund and within three (3) years from the
date the unit was sold, expend funds to make another unit equal in affordability, at the same income level, as the unit sold.
a. Sales. Did the agency permit the sale of any owner-occupied units during the reporting year?
N o
N-(es
$ 33 , 5 83 4-- Total Proceeds From Sales Over Reporting Year Number of Units
Income Level
VL L M Total
Units Sold Over Current Reporting Year 1 1
b. Equal Units. Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years?
No
0Yes
Affordable Units to be Constructed Outside of Project Area(s) Within Two Years From Date of Agreement or Contract
4. Pursuant to Section 33080.4(a)(10), report the number of very low, low, and moderate income units to be financed by any federal,
state, local, or private source in order for construction to be completed within two years from the date of the agreement or contract
executed over the reporting year. Identify the project and/or conhactor, date of the executed agreement or contract, and estimated
completion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on
HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two years from the
reporting year's agreement or contract date.
N/A
DO NOT REPORT ANY UNITS SHOWN ON SCHEDULES HCD As OR Ds.
Col A Col B Col C Col D Col E
VL L M Total
Name of
Project and/or
Contractor
Agreement
Execution
Date
Estimated
Completion Date
(wfin 2 yrs of Col El)
Sch C Amount
Encumbered
[Line 6a1
Sch C Amount
Designated
[Line 7al
$
$ $
$ $
Please attach a separate sheet of paper to list additional information. I
California Redevelopment Agencies — Fiscal Year 2007-2008
HCD-B
Sch B (7/1/08)
Page 2 of 2
$ <-- Total LMIHF spent on Equal Units Over Reporting Year Number of Units
Income Level VL L M Total
Units Made Equal This Reporting Yr to Units Sold Over This Reporting Yr
Units Made Equal This Reporting Yrto Units Sold One Reporting Yr Ago
Units Made Equal This Reporting Yr to Units Sold Two Reporting Yrs Ago
Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago
9SCHEDULE HCD-C
Agency-wide Activity
for Fiscal Year Ended 0 6 1 30 / 200 8
Culver City
Agency Name: Redevelopment Agency County:
Los Angeles
Tevis Barnes
Preparer's Name, Title: Housing Administrator Preparer's E-Mail Address:t ev is . barne s @ culver c ty o rg
Preparer's Telephone No: (310) 253-5780 Preparer's Facsimile No: (310) 253-5785
Low & Moderate Income Housing Funds
Report on the "status and use of the agency's Low and Moderate Income Housing Fund." Most information reported here should
be based on information reported to the State Controller.
5,2_99,0
1. Beginning Balance (Use "Net Resources Available" from last fiscal year report to HCD) $
e1
a. If Beginning Balance requires adiustment(s),describe and provide dollar amount (positive/negative)
making up total adjustment: Use <5> for negative amounts or amounts to be subtracted.
b. Adjusted Beginning Balance [Beginning Balance plus + or minus <-> Total Adjustment(s)1
$ 5,z59,00
2. Project Area(s) Receipts and Housing Fund Revenues
a. Total Project Area(s) Receipts. Total Summed amount of HCD-Schedule A(s) (from Line 3k) $ 6 93 5 38
b. Housing Fund Resources not reported on HCD Schedule -A(s)
Describe and Provide Dollar Amount(s) (Positive/Negative) Making Up Total Housing Fund Resources
c. Total Housing Fund Resources
$ -
3 - Total Resources (Line lb. +Line 2a + Line 2c.)
$
zz. t 9S,
619'
NOTES:
Many amounts to report as Expenditures and Other Uses (beginning on the next page) should be taken from amounts
reported to the State Controller's Office (SCO). Review the SCO's Redevelopment Agencies Financial Transactions Report.
Housing Fund 'transfers-out" to other internal Agency funds: Report the specific use of all transferred funds on applicable
lines 4a.-k of Schedule C. For example, transfers from the Housing Fund to the Debt Service Fund for the repayment of
principal and interest of debt proceeds deposited to the Housing Fund should be reported on the applicable item comprising
HCD-C Line 4c, providing tax increment (gross and deposit amounts) were reported on Sch-As. External transfers out of the
Agency should be reported on HCD-C Line 4j (e.g.: transfer of excess surplus to the County Housing Authority).
Other Uses: Non-GAAF (Generally Accepted Accounting Principles) recording of expenditures such as land purchases for
agencies using the Land Held for Resale method to record land purchases should be reported on HCD-C Line 4a(1). Funds
spent resulting in loans to the Housing Fund should be included in HCD-C lines 4b., 4f, 4g., 4h., and 4i as appropriate.
The statutory cite pertaining to Community Redevelopment Law (CRL) is provided for preparers to review to determine
the appropriateness of Low and Moderate Income Housing Fund (LMIIII) expenditures and other uses. HCD does not
represent that line items identibling any expenditures and other uses are allowable. CRL is accessible on the Internet
fwebsite: http://www.leginfo.ca.gov/ (California Law)j beginning with Section 33000 of the Health and Safety Code.
California Redevelopment Agencies —Fiscal Year 2007-2008
HCD-C
Sch C (7/1/08)
Page 1 of 10Agency Name: Culver City Redevelopment Agency
4. Expenditures, Loans, and Other Uses
a. Acquisition of Property & Building Sites 1333342(e)(1)1 & Housing 133334.2(e)(6)]:
(1) Land Purchases (Investment — Land Heldfor Resale) *
(2) Housing Assets (Fixed Asset)*
(3) Acquisition Expense $ (04-4156
(4) Operation of Acquired Property
(5) Relocation Costs
(6) Relocation Payments
(7) Site Clearance Costs
(8) Disposal Costs
(9) Other [Explain and identify amount(s)]:
* Reported to SCO as part ofAssets and Other Debts
(10) Subtotal Property/Building Sites/Housing Acquisition (Sum of Lines 1 — 9) $ 4)156
b. Subsidies from Low and Moderate Income Housing Fund (LIVICHF):
(1) 1 st Time Homebuyer Down Payment Assistance 0
(2) Rental Subsidies $ 5 .6i6, 83
(3) Purchase of Affordability Covenants [33413(b)2(3)}
(4) Other [Explain and identify amount(s)]:
(5) Subtotal Subsidies from LMIHF (Sum of Lines 1 —4) $ 56,6S3
c. Debt Service 133334.2(e)(9)1. If paid from LM1HF, report LATEHF's share of debt service. If paid from
Debt Service Fund, ensure "gross" tax increment is reported on HCD-A(s) Line 3a(1).
(1) Debt Principal Payments
(a) Tax Allocation, Bonds & Notes
(b) Revenue Bonds & Certificates of Participation
(c) City/County Advances & Loans
(d) U. S. State & Other Long—Term Debt
(2) Interest Expense
(3) Debt Issuance Costs
(4) Other [Explain and identify amount(s)]:
(5) Subtotal Debt Service (Sum of Lines 1 —4)
0
d. Planning and Administration Costs 133334.3(e)(1)1:
(1) Administration Costs $ 2,16 op
(2) Professional Services (non project specific)
(3) Planning/Survey/Design (non prated specific)
(4) Indirect Nonprofit Costs p3334.3(e)(1)(B)]
(5) Other [Explain and identify amount(s)]:
(6) Subtotal Planning and Administration (Sum of Lines I — 5)
Cal ifornia Redevelopment Agencies —Fiscal Year 2007-2008
Sch C (7/1/08)
$ 2J 6 op gb
HCD-C
Page 2 of 10Compare Line 9 to the below amount reported to the SCO (Balance Sheet of Redevelopment Agencies
Financial Transactions Report. [Explain differences and identify amount(s)]:
ENTER LOW-MOD FUND TOTAL EQUITIES (BALANCE SHEET) REPORTED TO SCO
Agency Name: Culver City Redevelopment Agency
4. Expenditures, Loans, and Other Uses (continued)
e. On/Off-Site Improvements p3334.2(e)(2)1 Complete item 13 $ S.
2
•L
Housing Construction [33334.2(e)(5)1
g. Housing Rehabilitation [33334.2(e)(7)] $ '4 8;13 9-
h. Maintain Supply of Mobilehome Parks [33334.2(e)(10)]
I. Preservation of At-Risk Units [33334.2(e)(I 1)]
j. Transfers Out of Agency
(1) For Transit village Development Plan (33334.19)
(2) Excess Surplus [33334.12(a)(1)(A)]
(3) Other (specify code section authorizing transfer and amount)
A. Section B. Section
Other Transfers Subtotal $
(4) Subtotal Transfers Out of Agency (Sum ofj(1) through j(3))
k. Other Expenditures, Loans, and Uses [Explain and identify amount(s)]:
$ 132,252
Subtotal Other Expenditures, Loans, and Uses $
1 - Total Expenditures, Loans, and Other Uses (sum of lines 4a.-k.)
5. Net Resources Available [End of Reporting Fiscal Year]
rage 1, Line 3, Total Resources minus Total Expenditures, Loans, and Other Uses on Line 4.1.1
6. Encumbrances and Unencumbered Balance
a. Encumbrances. Amount of Line 5 reserved for future payment of legal contract(s)
or agreement(s). See Section 33334.12(g)(2) for definition.
Refer to item 10 on Sch-A(s) and item 4 on Selz-B.
79,108
$
$ 301+ 12_
b. Unencumbered Balance (Line 5 minus Line 6a). Also enter on Page 4, Line 11a. $ Irk 5 \3D1.4
7 - Designated/Undesig,nated Amount of Available Funds
a. Designated From Line 6b- Budgeted/planned to use near-term
Refer to item 10 orz Soli-A(s) and item 4 on Sob-B
0
b. Undesignated From Line 6b- Portion not vet budgeted/planned to use $
8. Other Housing Fund Assets (non recurrent receivables) not included as part of Line 5
a Indebtedness from Deferrals of Tax Increment (Sec. 33334.6)
[refer to Sch-.A(s), Line 5c pA.
b. Value of Land Purchased with Housing Funds and Held for $ 3.06 a
Development of Affordable Housing. Complete Sch-C item 14 $ 4,250,649
c. Loans Receivable for Housing Activities $ 1,260,310
d. Residual Receipt Loans (periodic/fluctuating payments) S 0
e. ERAF Loans Receivable (all years) (Sec. 33681) $ 2,748,693
f Other Assets [Explain and identify amount(s)):
PRztVid
2.1p6
9 16; g . Total Other Housing Fund Assets (Sum a lines 8a.-f) $ 38, 00
9 - TOTAL FUND EQUITY{Line 5 (Net Resources Available) +8g (Total Other Housing Fund Assets]$ 5 cc 4 2_1
California Redevelopment Agencies — Fiscal Year 2007-2005
HCD-C
Sch C (711/08)
Page 3 of 10
/nAgency Name: Excess Surplus Information
Pursuant to Section 33080.7 and Section 33334.12(g)(1), report on Excess Surplus that is required to be determined on the first day
of a fiscal year. Excess Surplus exists when the Adjusted Balance exceeds the greater of:
(I) $1,000,000 or (2) the aggregate amount
of tax increment deposited to the Housing Fund during the prior four fiscal years. Section 33334.12(g)(3)(A) and (B) provide that
the Unencumbered Balance can be adjusted for: (1) any remaining revenue generated in the reporting year from unspent debt proceeds
and (2) if the land was disposed of during the reporting year to develop affordable housing, the difference between the fair market value
of land and the value received.
The Unencumbered Balance is calculated by subtracting encumbrances from Net Resources Available. "Encumbrances" are funds
reserved and committed pursuant to a legally enforceable contract or agreement for expenditure for authorized redevelopment housing
activities [Section 33334.12(g)(2)].
For Excess Surplus calculation purposes, carry over the prior year's HCD Schedule C Adjusted Balance as the Adjusted Balance on the
first day of the reporting fiscal year. Determine which is larger: (1) $1 million or (2) the total of tax increment deposited over the prior
four years. Subtract the largest amount from the Adjusted Balance and, if positive, report the amount as Excess Surplus.
10. Excess Surplus:
Complete Columns 2 3 4 8z 5 to calculate Excess Sur plus for the reoortinc year. Columns 6 and 7 track '
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7
4 Prior and
Current
Reporting
Total Tax
Increment
Deposits to
Housing Fund
Sum of Tax
Increment
Deposits Over
Prior Four
FYs
Current
Reporting Year
Current
Reporting Year
1' Day
Excess Surplus
Balances
Amount
Expended/Encumbered
Against FY Balance of
Excess Surplus as of
End of Reporting Year
Remaining Excess
Surplus for Each
Fiscal Year as of
End of Reporting Year
l Day
Adjusted
Balance
Years
4 lipt Yrs Ago
FY
$ $ $ $
3 Rpt Yrs Ago
FY
$ $ $ $
2 Rpt Yes Ago
FY
$
$ $ $
I Rpt Yr Ago
FY
$ $ $ $
CURRENT
Reporting
Sum of Column 2 Last Year's Sch Q
Adjusted Balance
Col 4 minus: larger
of Col 3 or Slum
$ $
Year
FY $
(report positive $)
$
11. Reporting Year Ending Unencumbered Balance and Adjusted Balance:
a. Unencumbered Balance (End of Year) [Page 3, Line 6b}
b. If eligible, adjust the Unencumbered Balance for:
(1) Debt Proceeds [33334.I2(g)(3)(B)]:
Identify unspent debt proceeds and related income remaining at end of reporting year $
(2) Land Conveyance Losses [(33334.12(gX3)(A))]:
Identify reporting year losses from sales/grants/leases of land acquired with low-mod funds,
if 49% or more of new or rehabilitated units will be affordable to lower-income households $
12. Adjusted usted Balance (for next year's determination of Excess Surplus) [Line 11 a minus sum of 1 lb(1) and 11b(2)] $
Note: Do not enter Adjusted Balance in Col 4. It is to be reported as next year's 1st day amount to determine Excess
Surplus
a. If there is remaining Excess Surplus from what was determined on the first day of the reporting year, describe
the agency's plan (as specified in Section 33334.10) for transferring, encumbering, or expending excess surplus:
b. If the plan described in 12a. was adopted, enter the plan adoption date: / / mo day yr
California Redevelopment Agencies —Fiscal Year 2007-2008
IICD-C
Sch C (7/1/08)
Page 4 of 10Agency Name:
Cu lve r Ci ty
Miscellaneous Uses of Funds
13. If an amount is reported in 4e., pursuant to Section 33080.4(a)(6), report the total number of very low-, low-, and moderate-income
households that directly benefited from expenditures for onsite/offsite improvements which resulted in either new construction,
rehabilitation, or the elimination of health and safety hazards. (Note: If Line 4e of this schedule does not show expenditures for
improvements, no units should be reported here.)
Income
Level
Households
Constructed
Households
Rehabilitated
Households Benefiting
from Elimination of
Health and Safety Hazard Duration of Deed Restriction
Very Low
Low
Moderate
14. If the agency is holding land for future housing development (refer to Line 8b), summarize the acreage (round to tenths, do not
report square footage), zoning, date of purchase, and the anticipated start date for the housing development.
Site NainefLocation*
No. of
Acres Zoning
Purchase
Date
Estimated Date
Available Comments
Washin t t 1
2 ., 9.|1010|March-
Au• '06
200,9
Globe
.7
R2 .
July
05
2008
Pleasant View
,5
C
Dec' 06-
June
iØ9
2009
Please attach a separate sheet of paper listing any additional sites not reported above. I
15. Section 33334.13 requires agencies which have used the Housing Fund to assist mortgagors in a homeownership mortgage
revenue bond program, or home financing program described in that Section, to provide the following information:
a. Has your agency used the authority related to definitions of income or family size adjustment factors provided in Section
33334.13(a)?
Yes No DI Not Applicable E
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 0 No 0 Not Applicable II]
California Redevelopment Agencies— Fiscal Year 2007-2001
HCD-C
Sch C (7/1/08)
Page 5 of 10
ILlCulver City
Agency Name: 16. Did the Agency use non-LMIHE funds as matching funds for the Federal HOME or HOPE program during the reporting period?
YES 111 NO El
If yes, please indicate the amount of non-LMIFIF funds that were used for either HOME or HOPE program support.
HOMES HOPES
17. Pursuant to Section 33080.4(a)(11), the agency shall maintain adequate records to identify the date and amount of all LMEH F
deposits and withdrawals during the reporting period. To satisfy this requirement, the Agency should keep and make available
upon request any and all deposit and withdrawal information. DO NOT SUBMIT ANY DOCUMENTS/RECORDS.
Has your agency made any deposits to or withdrawals from the LIVIIFIF? Yes 111 No 171
If yes, identify the document(s) describing the agency's deposits and withdrawals by listing for each document, the following
(attach additional pages of similar information below as necessary):
Name of document (e.g. ledger, journal, etc.):
Name of Agency Custodian (person):
Custodian's telephone number:
Place where record can be accessed:
Name of document (e.g. ledger, journal, etc.): Name of Agency Custodian (person):
Custodian's telephone number:
Place where record can be accessed:
18. Use of Other (non Low-Mod Funds) Redevelopment Funds for Housing
Please briefly describe the use of any non-LMIHF redevelopment funds (i.e., contributions from the other 80% of tax increment
revenue or other non Low-Mod funds) to construct, improve, assist, or preserve housing in the community.
19. Suggestions/Resource Needs
Please provide suggestions to simplify and improve future agency reporting and identify any training, information, and/or other
resources, etc. that would help your agency to more quickly and effectively use its housing or other funds to increase, improve,
and preserve affordable housing?
20. Annual Monitoring Reports of Previously Completed Affordable Housing Protects/Programs (H&SC 33418)
Were all Annual Monitoring Reports received for all prior years' affordable housing projects/programs? Yes
No
California Redevelopment Agencies —Fiscal Year 2007-2008
HCD-C
Sch C (711/08)
Page 6 of 10
LSAgency Name: 21. Excess Surplus Expenditure Plan (H&SC 33334.10(a)
California Redevelopment Agencies— Fiscal Year 2007-2008
HCD-C
Sch C (7/1/08)
Page 7 of 10
ILAgency Name: 22. Footnote area to provide additional information.
California Redevelopment Agencies— Fiscal Year 2007-2008
HCD-C
Sch C (7/1/08)
Page 8 of 10
'7Agency Name: 23. Project Achievement and IICD Director's Award for Housing Excellence
Project achievement information is optional but can serve important purposes: Agencies' achievements can inform others of
successful redevelopment projects and provide instructive information for additional successful projects. Achievements may be
included in HCD's Annual Report of Housing Activities of California Redevelopment Agencies to assist other local agencies in
developing effective and efficient programs to address local housing needs.
In addition, HCD may select various projects to receive the Director's Award for Housing Excellence. Projects may be selected
based on criteria such as local affordable housing need(s) met, resources utilized, barriers overcome, and project
innovation/complexity, etc.
Project achievement information should only be submitted for one affordable residential project that was completed within the
reporting year as evidenced by a Certificate of Occupancy. The project must not have been previously reported as an achievement.
To publish agencies' achievements in a standard format, please complete information for each underlined category
below addressing suggested topics in a narrative format that does not exceed two pages (see example, next page). In
addition to submitting information with other HCD forms to the State Controller, please submit achievement
information on a 3.5 inch diskette and iden4fy the software type and version. For convenience, the diskette can be
separately mailed to: HCD Policy Division 1800 3'd Street, Sacramento, CA 95814 or data can be emailed by
attaching the file and sending it to: rlevy @hcdca,zov.
AGENCY INFORMATION
• Project Type (Choose one of the categories below and one kind of assistance representing the primary project type):
New/Additional Units (Previously Unoccupied/Uninhabitable):
Existing Units (Previously Occupied)
- New Construction to own
Rehabilitation of Owner-Occupied
New Construction to rent
Rehabilitation of Tenant-Occupied
Rehabilitation to own
Acquisition and Rehabilitation to Own
Rehabilitation to rent
Acquisition and Rehabilitation to Rent
Adaptive Re-use
Mobilehomes/Manufactured Homes
Mixed Use Infill
Payment Assistance for Owner or Renter
- Mobilehornes/Manufactured Homes
Transitional Housing
- Mortgage Assistance
Other (describe)
- Transitional Housing
Other (describe)
• Agency Name:
• Agency Contact and Telephone Number for the Project:
DESCRIPTION
• Project Name
• Clientele served [owner, renter, income group, special need (e.g. large family or disabled), etc.]
• Number and type of units and location, density, and size of project relative to other projects, etc.
• Degree of affordability/assistance rendered to families by project, etc.
• Uniqueness (land use, design features, additional services/amenities provided, funding sources/collaboration, before/after
project conversion such as re-use, mixed use, etc.)
• Cost (acquisition, clean-up, infrastructure, conversion, development, etc.)
HISTORY
• Timeframe from planning to opening
• Barriers/resistance (legal/financial/community, etc.) that were overcome
• Problems and creative solutions found
• Lessons learned and/or recommendations for undertaking a similar project
AGENCY ROLE AND ACHIEVEMENT
• Degree of involvement with concept, design, approval, financing, construction, operation, and cost, etc.
• Specific agency and/or community goals and objectives met, etc.
California Redevelopment Agencies — Fiscal Year 2007-2008 HCD-C
Sch C (7/1/08) Page 9 of 10
12Agency Name: Project Type: NEW CONSTRUCTION- OWNER OCCUPIED
Redevelopment Agency
Contact: Name (Area Code) Telephone #
Prniect[Proornrn Name:
Prtigt Pr.gram
Description
During the reporting year, construction of 12 homes was completed. Enterprises,
which specializes in community self-help projects, was the developer, assisting 12 families in the
construction of their new homes. The homes took 10 months to build. The families work on the homes
was converted into "sweat equity" valued at $15,000. The first mortgage was from CHFA. Families were
also given an affordable second mortgage. The second and third mortgage loans were funded by LMIHF
and HOME funds.
History
The (City or Conn struggled for several years over what to do about the
area. The tried to encourage development in the area by rezoning a
large portion of the area for multi-family use, and twice attempted to create improvement districts. None
of these efforts were successful and the area continued to deteriorate, sparking growing concern among
city officials and residents. At the point that the Redevelopment Agency became involved, there was
significant ill will between the residents of the and the (City or County). The
introduced the project in with discussions of how
the Agency could become involved in improving the blighted residential neighborhood centering on
. This area is in the core area of town and was developed with
disproportionately narrow, deep lots, based on a subdivision plat laid in 1950. Residents built their homes
on the street frontages of and leaving large back-lot
areas that were landlocked and unsuitable for development, having no access to either avenue. The
Agency worked with 24 property owners to purchase portions of their properties. Over several years, the
Agency purchased enough property to complete a tract map creating access and lots for building. Other
non-profits have created an additional twelve affordable homes.
Agency Role
The Agency played the central role. The Project is a classic example of
successful redevelopment. All elements of blight were present: irregular, land-locked parcels without
access; numerous property owners; development that lagged behind that of the surrounding municipal
property; high development cost due to need for installation of street improvements, utilities, a storm
drain system, and undergrounding of a flood control creek; and a low-income neighborhood in which
property sale prices would not support high development costs. The Agency determined that the best
development for the area would be single-family owner-occupied homes. The Agency bonded its tax
increment to fund the off-site improvements. A tract map was completed providing for the installation
of the street improvements, utilities, storm drainage, and the undergrounding of Creek.
These improvements cost the Agency approximately $1.5 million. In lieu of using the eminent domain
process, the Agency negotiated with 22 property owners to purchase portions of their property,
allowing for access to the landlocked parcels. This helped foster trust and good will during the course
of the negotiations. The Project got underway once sufficient property was purchased.
California Redevelopment Agencies Fiscal Year 2007-2008
TICD-C
Sch C (711/08)
Page 10 of 10
If• FARMWORKER (Permanent)
# 34
FEMALE HEAD OF HOUSHOLD
•
LARGE FAMILY
(4 or more Bedrooms)
• TRANSITIONAL HOUSING
#
104 ELDERLY
•
EMERGENCY SHELTERS
(allowable use only with 'Other Housing
Units Provided - Without LMIHF" Sch-D6)
•
DISABLED (Mental)
# 3 DISABLED (Physical)
• FARMVVORKER (Migrant)
SCHEDULE HCD-D1
GENERAL PROJECT/PROGRAM INFORMATION
For each different Project/Program (area/name/agy or nonaqv dev/rental or owner), complete a D1 and applicable D2-D7_
Examples:
1: 25 minor rehab (Nonagy Dev): Area 1: 15 Owner; Area 2: 6 Rental; & Outside: 4 Rental. Complete 3 D-ls, & Ds3-4-5.
2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 0-Is & 2 D-5s.
3: 15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 0-1 & 1 D-3.
4: 10 new (Outside). 2 Agy Dev (restricted Rental), 8 Nonagy Dev (nonrestricted Owner) Complete 2 D-1 s, 1 0-4, & 1 0-5.
Name of Redevelopment Agency: Culver City Redevelopment Agency
identify Priest Area or specify "Outside": r"'17,7`'sr
General Title of Housing Project/Program: Alternative Living for the Aging
Project/Program Address (optional):
Street:
Citywide
Owner Name (optional): Total Project/Program Units: # 125 Restricted Units: Unrestricted Units:
For projects/programs with no RDA assistance, do not complete any of below or any of HCD D2-D6. Only complete HCD-D7.
Was this a federally assisted multi-family rental project [Gov't Code Section 65863.10(a)(3)}? 0 YES n NO
Number of units occupied by ineligible households (e.g. ineligible incomeN of residents in unit) at FY end Number of bedrooms occupied by ineligible persons (e.g. ineligible income/* of residents in unit) at FY ft
end
Number of units restricted for special needs: (number must not exceed "Total Project Units")
Number of units restricted that are serving one or more Special Needs: * El Check, if data not available
(Note: A unit may serve multiple "Special Needs" below. Sum of all the below can exceed the "Number of Units" above)
Affordability and/or Special Need Use Restriction Term enter day/month/year usini di its e. g. 07/0112002):
Replacement Housing Units Inclusionary Housing Units Other Housing Units Provided
With LMIHF Without LMIHF
Restriction Start Date
Restriction End Date
Perpetuity
City Redevelopment Project
ZIP:
Funding Sources:
Redevelopment Funds:
Federal Funds
State Funds:
Other Local Funds:
Private Funds:
Owner's Equity:
TCAC/Federal Award:
TCAC/State Award:
Total Development/Purchase Cost:
$ 56,683
Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units:
LI Replacement Housing Units
(Sch HCD-D2)
Inclusionary Units:
LI Inside Project Area (Sch HCD-D3)
LI Outside Project Area (Sch HCD-D4)
Other Housing Units Provided:
El With LMIHF (Sch HCD-D5)
Without LMIHF (Sch HCD-D6)
0 No Agency Assistance (Sch HCD-D7)
California Redevelopment Agencies - Fiscal Year 2007-200a HCD-D1
Sell DI (7/1/08)•
DISABLED (Mental)
•
DISABLED (Physical)
• PARIVIWORKER (Migrant)
•
FARM WORKER (Permanent)
• FEMALE HEAD OF HOUSHOLD
•
LARGE FAMILY
(4 or more Bedrooms)
TRANSITIONAL HOUSING
•
ELDERLY
•
EMERGENCY SHELTERS
(allowable use only with "Other Housing
Units Provide or - Without LMIHF" Sch-D6)
SCHEDULE HCD-D1
GENERAL PROJECT/PROGRAM INFORMATION
For each dffferent Project/Program (area/name/aoy or nonapv dev/rental or owner), complete a DI and applicable D2-D7.
Examples:
25 minor rehab (Nonagy Dev): Area 1: 15 Owner; Area 2:6 Rental; & Outside: 4 Rental. Complete 3 D-1s, & Ds3-4-5.
2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D-1 s & 2 D-5s.
3: 15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 D-1 & 1 D-3.
4: 10 new (Outside). 2 Agy Dev (restricted Rental), 19 Nonagy Dev (nonrestricted Owner) Complete 2 D- Is, 1 D-4, & 1 D-5.
Name of Redevelopment Agency: Culver City Redevelopment Agency
Identify Project Area or specify "Outside":
General Title of Housing Project/Program:
Project/Program Address (optional):
Street:
11250 Playa Street
Owner Name (optional): Total Project/Program Units:
# 118
Restricted Units:
# 81
Unrestricted Units:
# 37
For proiects/proorams with no RDA assistance, do not complete any of below or any of HCD D2-D6. Only complete HCD-D7.
Was this a federally assisted multi-family rental project [Gov't Code Section 65863.10(a)(3)r 0 YES
L
NO
Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end #
Number of bedrooms occupied by ineligible persons (e.g. ineligible incomeN of residents in unit) at FY #
end
Number of units restricted for special needs: (number must not exceed "Total Project Units")
Number of units restricted that are serving one or more Special Needs: # El Check, if data not available
(Note: A unit may serve multiple "Special Needs' below. Sum of all the below can exceed the 'Number of Units" above)
Affordability and/or Special Need Use Restriction Term enter day/month/year using digits, e. g. 07/0112002
Replacement Housing Units Inclusionarv Housing Units Other Housing Units Provided
With LMIHF Without LMIHF
Restriction Start Date
Restriction End Date
Perpetuity
Funding Sources:
Redevelopment Funds: 112,458
Federal Funds
State Funds:
Other Local Funds:
Private Funds:
Owner's Equity:
TCAC/Federal Award:
TCAC/State Award:
Total Development/Purchase Cost:
Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units:
Ell Replacement Housing Units
inclusionary Units:
Other Housing Units Provided:
(Sch HCD-D2)
El Inside Project Area (Sch HCD-D3)
Mi With LMIHF (Sch HCD-D5)
10 Outside Project Area (Sch HCD-D4)
FM Without LMIHF (Sch HCD-D6)
I=1 No Agency Assistance (Sch HCD-D7)
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D1
Sch DI (7/1/08)
Culver City Redevelopment Project
Culver Terrace Mobile Home
City:
ZIP:
Culver City
T0 230•
DISABLED (Mental)
# 38 DISABLED (Physical)
# FARM WORKER (Migrant)
•
FARMINORKER (Permanent)
# 27 FEMALE HEAD OF HOUSHOLD
•
LARGE FAMILY
(4 or more Bedrooms)
•
TRANSITIONAL HOUSING
#37
ELDERLY
•
EMERGENCY SHELTERS
(allowable use only with 'Other Housing
Units Provided - Without LM11-IF" Sch-D6)
SCHEDULE HCD-131
GENERAL PROJECT/PROGRAM INFORMATION
For each different Project/Program (area/narne/adv or nonadv dev/rental or owner), complete a Dl and applicable D2-D7.
Examples:
1: 25 minor rehab (Nonagy Dev): Area 1: 15 Owner; Area 2: 6 Rental; & Outside: 4 Rental. Complete 3 0-1s, & Ds3-4-5
2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D-1s & 2 D-5s.
15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 0-1 & 1 D-3.
4: 10 new (Outside). 2 Agy Dev (restricted Rental), 8 Nonagy Dev (nonrestricted Owner) Complete 2 D-1s, 1 0-4, & 1 D-5.
Name of Redevelopment Agency:
Identify Project Area or specify "Outside":
General Title of Housing Project/Program:
Project/Program Address (optional):
Street:
Ci tywide
Culver City Redevelopment Agency
Culver f',. .L Redevelopment Project
Home Secure
ZIP:
Owner Name (optional): Total Project/Program Units: # 38
Restricted Units:
Unrestricted Units:
For proiects/proorams with no RDA assistance, do not complete any of below or any of HOD D2-D6. Only complete HCD-D7.
Was this a federally assisted multi-family rental project [Gov't Code Section 65863.10(a)(3)r 0 YES D NO
Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end #
Number of bedrooms occupied by ineligible persons (e.g. ineligible income/# of residents in unit) at FY
end
Number of units restricted for special needs: (number must not exceed Total Project Units")
Number of units restricted that are serving one or more Special Needs: # 0 Check, if data not available
(Note: A unit may serve multiple 'Special Needs" below. Sum of all the below can exceed the "Number of Units" above)
Affordability and/or Special Need Use Restriction Term enter day/month/year using digits, e. g. 07/01/2002 :
Replacement Housing Units lnclusionari Housing Units Other Housing
With LMIHF
Units Provided
Without LMIHF
Restriction Start Date
Restriction End Date
Perpetuity
Funding Sources:
Redevelopment Funds:
Federal Funds
State Funds:
Other Local Funds:
Private Funds:
Owner's Equity:
TCAC/Federal Award:
TCAC/State Award:
Total Development/Purchase Cost:
$ 27,464
Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units:
El Replacement Housing Units Inclusionary Units:
Other Housing Units Provided:
(Sch HCD-D2) 0 Inside Project Area (Sch HCD-D3)
With LMII-IF (Sch HCD-D5)
0 Outside Project Area (Sch HCD-D4)
0 Without LMINF (Sch HCD-D6)
El No Agency Assistance (Sch HCD-D7)
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-Dl
Sch DI (7/1/08)• FARM WORKER (Permanent)
#53 FEMALE HEAD OF HOUSHOLD
•
LARGE FAMILY
(4 or more Bedrooms)
•
TRANSITIONAL HOUSING
# 34 ELDERLY
•
EMERGENCY SHELTERS
(allowable use only with "Other Housing
Units Provided - Without LM/HP Sch-D6)
•
DISABLED (Mental)
# 60 DISABLED (Physical)
•
FARMVVORKER (Migrant)
SCHEDULE HCD-D1
GENERAL PROJECT/PROGRAM INFORMATION
For each different Project/Program (area/name/agy or nonaoy dev/rental or owner), complete a Dl and applicable D2-D7.
Examples:
1: 25 minor rehab (Nonagy Dev): Area 1:15 Owner; Area 2: 6 Rental; & Outside: 4 Rental. Complete 3 D-1s, & Ds3-4-5
2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 0-1s & 2 D-5s.
3:15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 0-1 & 1 0-3.
4: 10 new (Outside). 2 Agy Dev (restricted Rental), 8 Nonagy Dev (nonrestricted Owner) Complete 2 0-1s, 1 0-4, & 1 0-5.
Name of Redevelopment Agency: Culver City Redevelopment Agency
Identify Project Area or specify' "Outside": r Ci ty Redeye 1opmen t
General Title of Housing Project/Program: Housing Rights Center
Project/Program Address (optional):
Street:
Citywide
Owner Name (optional): Total Project/Program Units: # 482 Restricted Units:
Unrestricted Units:
For projects/programs with no RDA assistance, do not complete any of below or any of HCD D2-De. Only complete HCD-D7. 1
Was this a federally assisted multi-family rental project [Gov't Code Section 65863.10(a)(3)]? 0 YES 0 NO
Number of units occupied by ineligible households (e.g. ineligible incomehl of residents in unit) at FY end #
Number of bedrooms occupied by ineligible persons (e.g. ineligible income/# of residents in unit) at FY
end
Number of units restricted for special needs: (number must not exceed "Total Project Units")
Number of units restricted that are serving one or more Special Needs: # 0 Check, if data not available
(Note: A unit may serve multiple "Special Needs" below. Sum of all the below can exceed the 'Number of Units" above)
Affordability and/or Special Need Use Restriction Term enter day/month/year using digits, e. g. 0710112002):
Replacement Housing Units Inclusionary Housing Units Other Housing Units Provided
With LMIHF Without LMIHF
Restriction Start Date
Restriction End Date
Perpetuity
Funding Sources:
Redevelopment Funds: $ 19,557
Federal Funds
State Funds:
Other Local Funds:
Private Funds:
Owner's Equity:
TCAC/Federal Award:
TCAC/State Award:
Total Development/Purchase Cost:
Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units:
Ei Replacement Housing Units
Inclusionary Units:
Other Housing Units Provided:
(Sch HCD-D2)
El Inside Project Area (Sch HCD-D3)
Ed With LMIFIF (Sch HCD-D5)
LI
Outside Project Area (Sch HCD-D4)
jI
VVithout LMIHF (Sch HCD-D6)
111No Agency Assistance (Sch HCD-D7)
ZIP:
California Redevelopment Agencies - Fiscal Year 2007-2008 FICD-D1
Sch DI (711/08)•
FARM WORKER (Permanent)
FEMALE HEAD OF HOUSHOLD
•
LARGE FAMILY
(4 or more Bedrooms)
TRANSITIONAL HOUSING
ELDERLY
EMERGENCY SHELTERS
(allowable use only with 'Other Housing
Units Provided - Without LA/1114F" Sch-D6)
•
DISABLED (Mental)
• 1 DISABLED (Physical)
• FARMVVORKER (Migrant)
#9 # 7
Inclusionary Units:
El Inside Project Area (Sch HCD-D3)
n Outside Project Area (Sch HCD-D4)
Other Housing Units Provided:
With LMIHF (Sch HCD-D5)
LI
Without LMIHF (Sch HCD-06)
Li No Agency Assistance (Sch HCD-D7)
SCHEDULE HCD-D1
GENERAL PROJECT/PROGRAM INFORMATION
For each different Project/Program (area/name/agy or nonagy dev/rental or owner), complete a Dl and applicable D2-D7.
Examples:
1: 25 minor rehab (Nonagy Dev): Area 1: 15 Owner; Area 2: 6 Rental; & Outside: 4 Rental. Complete 3 fl-Is, & Ds3-4-5,
20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 0-1s & 2 D-5s.
3: 15 sub rehab (restricted): Area 4:15 Nonagy Dev, Owner. Complete 1 0-1 & 1 D-3.
4: 10 new (Outside). 2 Agy Dev (restricted Rental), 8 Nonagy Dev (nonrestricted Owner) Complete 2 0-1s, 1 0-4, & 1 0-5.
Name of Redevelopment Agency: Redevelopment
I dentify Project Area or specify "Outside": Cu lve r Ci t- Redeye lo—ment
General Title of Housing Project/Program: NPP (single family)
Project/Program Address (optional):
Street:
see attached
Owner Name (optional): Total Project/Program Units: # 13
For projects/oroarams with no RDA assistance, do not complete any of below or any of FICD 02-06. Only complete HCD-D7.
Was this a federally assisted multi-family rental project [Gov't Code Section 65863.10(a)(3)]? 0 YES Li NO
Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end #
Number of bedrooms occupied by ineligible persons (e.g. ineligible income/# of residents in unit) at FY #
end
Number of units restricted for special needs: (number must not exceed 'Total Project Units")
Number of units restricted that are serving one or more Special Needs: # LI Check, if data not available
(Note: A unit may serve multiple "Special Needs" below. Sum of all the below can exceed the 'Number of Units" above)
Affordability and/or Special Need Use Restriction Term enter da y/month/year usinq di its e. . 07101/20021:
Replacement Housing Units Inclusionary Housing Units Other Housing
With LM1HF
Units Provided
Without LMIFIF
Restriction Start Date
Restriction End Date
Perpetuity
Cu lver City
Agency
ZIP:
Restricted Units:
Unrestricted Units:
Funding Sources:
Redevelopment Funds:
Federal Funds
State Funds:
Other Local Funds:
Private Funds:
Owner's Equity:
TCAC/Federal Award:
TCAC/State Award:
Total Development/Purchase Cost:
$ 45,046
Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units:
LI
Replacement Housing Units
(Sch HCD-D2)
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-Dl
Sch 01(7/1/08)
tCulver City Redevelopment Agency
Neighborhood Preservation Program
Single Family
FY 2007/2008
Project
Type
Address Owner Total Number
of Units
Financing/Subsidy
Souce
Elderly
62+ Years
0 11250 Pin a St #14 Amelia Aguilar 1 RDA Yes
1 RDA Yes
•
1 RDA No
• 1 RDA Yes
0 11306 Hannum Ave Ruth Nash 1 RDA Yes
0 3907 Spad P1 Elvira Seeman 1 RDA Yes
0 4121 13eriyman Ave William Stebbins 1 RDA Yes
0 5206 Summertime Lane Lana Adle 1 RDA No
0 10816 Galvin St Edmund Gress 1 RDA Yes
O 4358 Huntley Ave Harold Rosen 1 RDA No
0 10870 Whitburn St Kenneth Mcint re 1 RDA Yes
0 3823 Midway Ave Maria Zajf 1 RDA Yes
O 5206 Summertime Lane Lana Adle 1 RDA No•
DISABLED (Mental)
# 3 DISABLED (Physical)
•
FARM WORKER (Migrant)
• FARMWORKER (Permanent)
FEMALE HEAD OF HOUSHOLD
•
LARGE FAMILY
(4 or more Bedrooms)
# 5
•
TRANSITIONAL HOUSING
•
ELDERLY
•
EMERGENCY SHELTERS
(allowable use only with "Other Housing
Units Provided - Without LA41HP Sch-D6)
SCHEDULE HCD-D1
GENERAL PROJECT/PROGRAM INFORMATION
For each different Project/Program (area/narne/apy or nonagy dev/rental or owner), complete a Dl and applicable D2-D7.
Examples:
1: 25 minor rehab (Nonagy Dev): Area 1: 15 Owner; Area 2: 6 Rental; & Outside: 4 Rental. Complete 3D-Is, & Ds3-4-5.
2:20 sub rehab (nonrestricted): Area 3:4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D-1s & 2 D-5s.
3: 15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 D-1 & 1 D-3.
4: 10 new (Outside). 2 Agy Dev (restricted Rental), 8 Nonagy Da y (nonrestricted Owner) Complete 2 D-1s, 1 D-4, & 1 0-5.
Name of Redevelopment Agency:
Identify Project Area or specify "Outside":
General Title of Housing Project/Program:
Project/Program Address (optional):
Street:
4031 Jackson Ave.
Culver City Redevelopment Agency
Culver City Redevelopment Project
NPP (Jackson)
ZIP:
Culver City
—90232
Owner Name (optional): Total Project/Program Units: # 9
Restricted Units:
For projects/programs with no RDA assistance, do not complete any of below or any of FICD 02-D6. Only complete FICD-D7.
Was this a federally assisted multi-family rental project [Gov't Code Section 65863.10(a)(3)F 0 YES 0 NO
Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end #
Number of bedrooms occupied by ineligible persons (e.g. ineligible income/# of residents in unit) at FY #
end
Number of units restricted for special needs: (number must not exceed "Total Project Units')
Number of units restricted that are serving one or more Special Needs: # fl Check, if data not available
(Note: A unit may serve multiple "Special Needs" below. Sum of all the below can exceed the 'Number of Units" above)
Affordability and/or Special Need Use Restriction Term enter da y/month/year using digits. e.q . 07/01/2002):
Replacement Housing Units Inclusionary Housing Units Other Housing Units Prrwirleri
With LMIHF Without LMIHF
Restriction Start Date
Restriction End Date
Perpetuity
#9 Unrestricted Units:
Funding Sources:
Redevelopment Funds:
Federal Funds
State Funds:
Other Local Funds:
Private Funds:
Owner's Equity:
TCACIFederal Award:
TCAC/State Award:
Total Development/Purchase Cost:
$ 160,534
Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units:
El Replacement Housing Units
Inclusionary Units:
Other Housing Units Provided:
(Sch HCD-D2)
0 Inside Project Area (Sch HCD-D3)
Ed With LMIHF (Sch HCD-D5)
0 Outside Project Area (Sch HCD-D4)
Without LMIHF (Sch HCD-06)
111 No Agency Assistance (Sch HCD-D7)
California Redevelopment Agencies - Fiscal Year 2007-2008 FICD-D-1
Sch 01 (7/1108)if DISABLED (Mental)
#
7 DISABLED (Physical)
•
FARMVVORKER (Migrant)
FARM WORKER (Permanent)
# 17
FEMALE HEAD OF HOUSHOLD
•
LARGE FAMILY
(4 or more Bedrooms)
TRANSITIONAL HOUSING
# 5 ELDERLY
•
EMERGENCY SHELTERS
(allowable use only with 'Other Housing
Units Provided - Without LIWIHF" Sch-106)
SCHEDULE HCD-D1
GENERAL PROJECT/PROGRAM INFORMATION
For each different Project/Program (area/name/agy or nonagy dev/rental or owner), complete a DI and applicable D2-D7.
Examples:
1: 25 minor rehab (Nonagy Dev): Area 1: 15 Owner; Area 2: 6 Rental; & Outside: 4 Rental. Complete 3D-Is, & Ds3-4-5.
2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 0-1s & 2 D-5s.
3: 15 sub rehab (restricted): Area 4:15 Nonagy Dev, Owner. Complete 1 0-1 & 1 D-3.
4: 10 new (Outside). 2 Agy Dev (restricted Rental), 8 Nonagy Dev (nonrestricted Owner) Complete 2 0-1s, 1 D-4, & 1 D-5.
Name of Redevelopment Agency: Culver City Re de ve lopmen t Agency
Identify Project Area or specify "Outside": Culver City Re eve opmen ro] e at
NPP (Multi) )
City:
ZIP:
Owner Name (optional): Total Project/Program Units:
# 4 1 Restricted Units: #
34
Unrestricted Units:
7
For projects/programs with no RDA assistance, do not complete any of below or any of HOD D2-D6. Only complete HCD-D7.
Was this a federally assisted multi-family rental project [Gov't Code Section 65863.10(a)(3)j?
D YESLJ
NO
Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end if
Number of bedrooms occupied by ineligible persons (e.g. ineligible income/if of residents in unit) at FY
end
Number of units restricted for special needs: (number must not exceed "Total Project Units")
Number of units restricted that are serving one or more Special Needs: # U
Check, if data not available
(Note: A unit may serve multiple 'Special Needs below. Sum of all the below can exceed the "Number of Units" above)
Affordability and/or Special Need Use Restriction Term enter day/month/year using digits, e.g. 07/01/2002):
-
Replacement Housing Units inclusionary Housino Units Other Housing Units Provided
With LIVIIHF Without LMIHF
Restriction Start Date
Restriction End Date
Perpetuity
General Title of Housing Project/Program:
Project/Program Address (optional):
Street:
see attached
Funding Sources:
Redevelopment Funds:
Federal Funds
State Funds:
Other Local Funds:
Private Funds:
Owner's Equity:
TCACIFederai Award:
TCAC/State Award:
Total Development/Purchase Cost:
$ 164,524
Check al! appropriate form(s) below that will be used to identift au i of this Projecfsi,Program's Units:
0 Replacement Housing Units
inclusionary Units: Other Housing Units Provided:
(Sch HCD-D2)
0 Inside Project Area (Sch HCD-D3) [R] With LMIHF (Sch HCD-D5)
Outside Project Area (Soh HCD-D4) 2 Without LMIFIF (Soh HCD-D6)
0 No Agency Assistance (Sch HCD-D7)
California Redevelopment Agencies - Fiscal Year 2007-2008 HCD-Dl
Sch DI (7/1/08)Culver City Redevelopment Agency
Neighborhood Preservation Program
Multi-Family
FY 2007/2008
Project
Type
Address Owner Total Number
of Units
Financing/Subsidy
Souce
Elderly
62+ Years
0 11408 Washington PI Domnico & Francesca Masdea 4 RDA 0
0 5504 Kinston Ave Frederic & Janet Torres 4 RDA 2
0 ii 178 Culver Bl #20 Eugene & Nancy Tkacherdco 1 RDA I
0 11178 Culver B1 #4 Eugene & Nancy Tkachenko 1 RDA 0
0 3606-08 Wesley St Theresa Blackwell 2 RDA 0
0 11178 Culver 131 Eugene & Nancy Tkachenko 22 RDA 4
0 11178 Culver Bl #17 Eugene & Nancy Tkachenko 1 RDA 0
0 10918 Barman Ave Exceptional Childrens Foundation 3 RDA 0• FARM WORKER (Permanent)
# 4 FEMALE HEAD OF HOUSHOLD
•
LARGE FAMILY
(4 or more Bedrooms)
TRANSITIONAL HOUSING
ELDERLY
EMERGENCY SHELTERS
(allowable use onlv with 'Other Housing
Units Provided - Without L11.411-1F" Soh-D6)
# DISABLED (Mental)
# 9 DISABLED (Physical)
• FARMWORKER (Migrant)
#19
SCHEDULE HCD-D1
GENERAL PROJECT/PROGRAM INFORMATION
For each different Project/Program (area/name/aoy or nonady dev/rental ,or owner), complete a Dl and applicable D2-D7.
Examples:
1: 25 minor rehab (Nonagy Dev): Area 1: 15 Owner; Area 2: 6 Rental; & Outside: 4 RentaL Complete 3 D-1s, & 0s3-4-5.
2: 20 sub rehab (nonrestricted): Area 3: 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 0-1s & 2 D-5s.
3: 15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 0-1 & 1 0-3.
4: 10 new (Outside). 2 Agy Dev (restricted Rental), 8 Nonagy Dev (nonrestricted Owner) Complete 2 0-1s, 1 D-4, & 1 0-5.
Name of Redevelopment Agency:
identify Project Area or specify "Outside":
General Title of Housing Project/Program:
Project/Program Address (optional):
Street:
Citywide
Culver
Culver
Rental
City Redevelopment Agency
City Redevelopment 15-r-cYfect
Assistance P rograrn
ZIP:
Owner Name (optional): Total Project/Program Units:
# 32
Restricted Units:
Unrestricted Units:
For projects/programs with no RDA assistance, do not complete any of below or any of HCD D2-D6. Only complete HCD-D7. j
Was this a federally assisted multi-family rental project [Gov't Code Section 65863.10(a)(3)1?
LII
YES
LI
NO
Number of units occupied by ineligible households (e.g. Ineligible income/# of residents in unit) at FY end *
Number of bedrooms occupied by ineligible persons (e.g. ineligible income/if of residents in unit) at FY
end
Number of units restricted for special needs: (number must not exceed 'Total Project Units")
Number of units restricted that are serving one or more Special Needs: # D Check, if data not available
(Note: A unit may serve multiple 'Special Needs" below. Sum of all the below can exceed the 'Number of Units' above)
Affordability and/or Special Need Use Restriction Term enter day/month/year usin q di its e.q . 07/01/2002 :
Replacement Housing Units Inclusionarv Housing Units , Other Housing Units Provided
With LMIFIF Without LMIHF
Restriction Start Date
Restriction End Date
Perpetuity
Funding Sources:
Redevelopment Funds:
Federal Funds
State Funds:
Other Local Funds:
Private Funds:
Owner's Equity:
TCACIFederal Award:
TCAC/State Award:
Total Development/Purchase Cost:
$ 228,705
Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units:
Replacement Housing Units
(Sch HCD-D2)
I nclusionary Units:
Eli
Inside Project Area (Sch HCD-D3)
LI
Outside Project Area (Sch HCD-D4)
Other Housing Units Provided:
Rif
With LM1FIF (Sch HCD-D5)
El Without LMIHF (Sch HCD-D6)
[j] No Agency Assistance (Sch HCD-D7)
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D1
Sch 01 (711108)SCHEDULE HCD-D2
REPLACEMENT HOUSING UNITS
(units not claimed on Schedule D-5,6,7)
(restricted units that fulfill requirement to replace previously destroyed or removed units)
Agency: Culver City Redevelopment Agency
Redevelopment Project Area Name, or "Outside": Culver City Redevelopment Proj ect
Affordable Housing Project Name: N/A
Check only one:
111 Inside Project Area 0 Outside Project Area
Check only one. If both apply, complete a separate form for each (with another Sch 0-1):
Di Agency Developed 0 Non-Agency Developed
Check only one. If both apply, complete a separate form for each (with another Sch 0-1):
rj Rental 111 Owner-Occupied
Enter the number of restricted replacement units and bedrooms for each applicable activity below:
Note: "lNELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
A. New Construction:
Elderly Units
Non Elderly Units
Total Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
Count of Bedrooms (e.g.: 1 elderly, low, 2 bdrm unit and 4 nonelderly, low, 2 bdrm units =10 low (2 bdrms x 5)
1 Bedroom Unit (1 x # of units) 2 Bedroom Unit (2 x # of units)
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
3 Bedroom Unit (3 x # of units) 4 or more Bedroom Unit (4 x # of units)
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
TOTAL (sum of all unit Bedrooms)
VLOW LOW MOD TOTAL INELG.
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D2
Sch D2 (7/1/08)
Page 1 of 2
2117Agency Name: Culver City
Housing Project Name: SCHEDULE HCD-D2
REPLACEMENT HOUSING UNITS (continued)
Enter the number of restricted replacement units and bedrooms for applicable activity below:
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
B. Substantial Rehabilitation (Post '93/AB 1290 definition: increased value, inclusive of land, is >25%):
Elderly Units Non Elderly Units Total Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG.
Count of Bedrooms (e.g.: 1 elderly, mod, 1 bdrm unit and 2 nonelderly, mod, 1 bdrm units 3 mod (1 bdrins x 3)
1 Bedroom Unit (1 x # of units) 2 Bedroom Unit (2 x # of units)
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
N/A
3 Bedroom Unit (3 x # of units) 4 or more Bedroom Unit (4 x # of units)
VLOW LOW MOD TOTAL INELG. VLCIW LOW MOD TOTAL INELG.
TOTAL (sum of all unit Bedrooms)
VLOW LOW MOD TOTAL INELG.
TOTAL UNITS (Add only TOTAL of all "Total Elderly/Non Elderly Units" not bedrooms):
If TOTAL UNITS is less than "Total Project Units" on HCD Sch Dl, report the remaining units as instructed below. I
Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
Inclusionary Units
Other Housing Units Provided:
El Inside Project Area (Sch HCD-D3)
LI With LMIHF (Sch HCD-D5)
CI Outside Project Area (Sch HCD-D4)
0 Without LMIHF (Sch HCD-06)
D No Assistance (Sch HCD-D7)
Identify the number of Replacement Units which also have been counted as Inclusionary Units:
Elderly Units Non Elderly Units Total Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
California Redevelopment Agencies - Fiscal Year 2007-2008 HCD-D2
Sch D2 (7/1/08)
Page 2 of 2Non Elderly Units
TOTAL Elderly & Non Elderly Units
SCHEDULE HCD-D3
INCLUSIONARY HOUSING UNITS (INSIDE PROJECT AREA)
(units not claimed on Schedule D-4,5,67)
(units with required affordability restrictions that agency or community controls)
Agency: Culver City
Redevelopment Project Area Name: Culver City Redevelopment Project
Affordable Housing Project Name: N/A
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
f l
Agency Developed Non-Mencv Developed
rthae-k
only one. If both apply, complete a separate form for each (with another Seh-D1):
El Rental 0 Owner-Occupied
Enter the number of units for each applicable activity below:
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
A. New Construction Units:
Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL 1NELG.
Of Total, identify the number aggregated from other project areas (see HOD-A(s), Item 8):
B. Substantial Rehabilitation (Post-`931AB 1290 Definition of Value >25%: Credit for Obligations Since 1994k:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOO TOTAL INELG. VLOVV LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL FNELG.
N/A
Of Total, identify the number aggregated from other project areas (see HCD-A(s), Item 8):
C. Acquisition
of Covenants (Post-‘931AB 1290 Reform: Only Multi-Family Vlow & Low & Other Restrictions):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW
MOD TOTAL 1NELG.
TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly / Non Elderly Units"):
If TOTAL UNITS is less than "Total Project Units" on HCD Schedule DI, report the remaining units as instructed below. I
Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
LI Replacement Housing Units LI Inclusionary Units (Outside Project Area) Other Housing Units Provided:
(Sch HCD-D2) (Soh HCD-D4) El With LMIHF (Sch HCD-D5)
0 Without LMIHF (Sch HCD-D6)
0 No Assistance (Sch HCD-D7)
Identify the number of Inclusionary Units which also have been counted as Replacement Units:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL INELG.
VLOW LOW MOD TOTAL INELG.
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D3
Sell D3 (7/1/08)
•`)4SCHEDULE HCD-D4
INCLUSIONARY HOUSING UNITS (OUTSIDE ALL PROJECT AREAS)
(units not claimed on Schedule D-3,5,6,7)
(units with required affordability restrictions that agency or community controls)
Agency: Culver City
Project Area: OUTSIDE
Affordable Housing Project Name: N/A
Check only one. If both apply, complete a separate form for each (with another Sch-D1);
LI Agency Developed 0 Non-Agency Developed
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
II r-n -
r,. 11.1.4:11 El Owiler-Occupied
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
LI
One-to-One Credit El
Two-to-One Credit
(units do not fulfill any (2 units required to fulfill
project area obligation) 'I obligation of any project area)
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
Enter the number of units for each applicable activity below:
A. New Construction:
Elderly Units Non Elderly Units
B.
N/A
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL 1NELG.
Of Total, identify the number aggregated from other project areas (see HD D-A(s), Item 8):
Substantial Rehabilitation: (Post-`93/AB 1290 Definition of Value >25%; Credit for Since 1994): Obligations
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL 1NELG.
Of Total, identify the number aggregated from other project areas (see HCD-A(s), Item 8):
C. Acquisition of Covenants (Post-`93/AB 1290 Reform: Only Multi-Family Vlow & Low & Other Restrictions):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL 1NELG.
TOTAL Elderly & Non Elderly Units
L_LAW •
TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly / Non Elderly Units”):
If TOTAL UNITS is less than "Total Project/Program Units" on IICD Schedule Dl, report the remaining units as instructed below. I
Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
D Replacement Housing Units El Inclusionary Units (Inside Project Area) Other Housing Units Provided:
(Sch HCD-D2) (Sch HCO-D3) 0 With LIVIIHF (Sch HCD-D5)
LI
Without LMIHF (Sch HCD-D6)
0 No Assistance (Sch HCD-D7)
Identify the number of Inclusionary Units which also have been counted as Replacement Units:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL INELG.
VLOW LOW MOD TOTAL INELG.
California Redevelopment Agencies - Fiscal Year 2007-2008
Sch Del (7/1/08)
HCO-D4 IL 1
11
SCHEDULE HCD-D5
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITH LMIHF)
(units not claimed on Schedule D-2,3,4,617)
(lack minimum replacement or inclusionary restrictions and/or not controlled by agency or community)
Agency: Cu lver City
Redevelopment Project Area Name, or "Outside": Culver City Redevelopment Project
Affordable Hniming Prnjort N2rre: Alternative Living for the Aging
CITYWIDE
Check only one:
Inside Project Area 0 Outside Project Area
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
Agency Developed El Non-Agency Developed
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
0 Rental 0 Owner-Occupied
Enter the number of units for each applicable activity below:
Note: "lNELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
A. New Construction Units (non replacement/non inclusionary):
Elderly Units Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL MELO,
B. Substantial Rehabilitation Units (value increase with land > 25% (non replacement/non inclusionary):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INIELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INIELG.
C. Non-Substantial Rehabilitation Units:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL I NELG. VLOW LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL INIELG.
D. Acquisition of Units Only (non acquisition of affordability covenants for inclusionarv credit):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL 1NELG. VLOVV LOW MOD TOTAL NELG. VLOW LOW MOD TOTAL IN ELG.
E. Mobiiehome Owner / Resident:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL 1NELG. VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
F. Mobilehome Park Owner! Resident:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOIN LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL iNIELG. VLOIN LOW MOD TOTAL INELG.
California Redevelopment Agencies - Fiscal Year 2007-2008
HCID-D5
S chD5 (7/1/08)
Page 1 of 2Alternative Living for t
Housing Project Name: Aging
Agency Name: Culver City
SCHEDULE HCD-D5
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITH LMIHF) (continued)
Note: "lNELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
G. Preservation (H&S 33334.2(e)(11) Threat of Public Assisted/Subsidized Rentals Converted to Market):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG.
H. Subsidy (other than any activity already reported on this form):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
I. Other Assistance:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG.
85 12 9 7 7 13 7 20 1 98 19 117 8
TOTAL UNITS (Add only TOTAL of all `'TOTAL Elderly / Non Elderly Units"):
I If TOTAL UNITS is less than "Total Project Units" shown on HCD Schedule Di, report the remainder as instructed below.
Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
0 Replacement Housing Units inclusionary Units: Other Housing Units Provided:
(Sch HCD-D2) 0 Inside Project Area (Sch HCO-D3) E51 Without LMIHF (Sch HCD-D6)
0 Outside Project Area (Soh HCD-D4) ID No Assistance (Sch FICD-D7)
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D5
Sch 05 (7/1/08)
Page 2 of 2
1t'"SCHEDULE HCD-D5
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITH LMIHF)
(units not claimed on Schedule
(lack minimum replacement or inclusionary restrictions and/or not controlled by agency or community)
Agency: Culver City
Redevelopment Project Area Name, or "Outside": Culver Ci ty Redevelopment Proj ect
AffnrriPhlt., Housing Project Culver Terrace Mobile
Check only one:
Ij
Inside Project Area D Outside Project Area
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
Agency Developed D Non-Agency Developed
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
0 Rental 13 Owner-Occupied
Enter the number of units for each applicable activity below:
Note: "lNELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
A. New Construction Units (non replacement/non inclusionary):
Elderly Units Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
B. Substantial Rehabilitation Units (value increase with land > 25% (non replacement/non inclusionary):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL lNELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL 1NELG.
Non-Substantial Rehabilitation Units:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL INELG.
37
19 81
D. Acquisition of Units Only (non acquisition of afforoability covenants for inciusionary credit):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
E. Mobilehome Owner / Resident:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
-11 II 1 1 I' 11 II I 1
Li
F. Mobilehome Park Owner! Resident:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL 1NELG.
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D5
ScliD5 (7/1/08)
Page 1 of2Agency Name:
Culver City
Housing Project Name:
Culver Terrace Mobile
Home
SCHEDULE HCD-D5
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE VVITH LM/FIF) (continued)
Note: "INELG refers to a household that is no longer eligible but still a temporary resident and part of the total
G. Preservation (H&S 33334.2(e}(11) Threat of Public Assisted/Subsidized Rentals Converted to Market :
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
H. Subsidy (other than any activity already reported on this form):
Elderly Units Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL iNELG. VLOW LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL 1NELG.
Other Assistance:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL 1NELG. VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL 1NELG.
TOTAL UNITS (Add Only TOTAL of all "TOTAL Elderly / Non Elderly Units"):
If TOTAL UNITS is less than "Total Project Units" shown on BCD Schedule DI, report the remainder as instructed below.
Cheek all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
El Replacement Housing Units Inclusionary Units: Other Housing Units Provided:
(Sch HCD-D2) n inside Pr,Thii.irl Area (qch Fi r'D-rr') 0 Without LmiRF (Sch HCD-D6)
0 Outside Project Area (Sch HCD-D4) 0 No - Assistance (Sch IICD-D7)
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D5
Sch D5(11108)
Page 2 of 2SCHEDULE HCD-D5
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITH LMIHF)
(units not claimed on Schedule D-2,3,4,6,7)
(lack minimum replacement or inclusionary restrictions and/or not controlled by agency or community)
Agency: Cu lver City
Redevelopment Project Area Name, or "Outside": Culver City Redevelopment Project
Affort-Inh ! H A / Icing Nnn,5: Home Secure
Check only one:
0 Inside Project Area LI Outside Project Area
Check only one. If both apply, complete a separate form for each (with another Sch-Di):
E] Agency Developed Ej Non-Apency Developed
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
0 Rental 0 Owner-Occupied
Enter the number of units for each applicable activity below:
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
A. New Construction Units (non replacement/non inclusionary):
Elderly Units Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL 1NELG.
Substantial Rehabilitation Units (value increase with land > 25% (non replacement/non inclusionary):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL INELG.
C. Non-Substantial Rehabilitation Units:
Elderly Units
Non Elderly Units TOTAL Elderly & Non Elderly Units
CITYWIDE
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL 1NELG. 'y'LOW LOW MOD TOTAL INiELG.
D. Acquisition of Units Only (non acquisition of afforoability covenants for inclusionary credit):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
Mobilehome Owner / Resident:
Elderly Units
Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL 1NELG. VLOVV LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL INELG.
F. Mobilehome Park Owner I Resident:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL iNELG. VLOW LOW MOD TOTAL INELG.
Cal ifornia Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D5
SchD5 (7/1/08)
Page 1 of 2
IgAgency Name:
Culver City
Housing Project Name: Home Secure
SCHEDULE HCO-D5
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITH LMIHF) (continued)
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
G. Preservation {EMS 33334.2(e)(11) Threat of Public Assisted/Subsidized Rentals Converted to Market):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL NELG. VLOVV LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG.
Subsidy (other than any activity already reported on this form):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL NELG. VLOW LOW MOD TOTAL INELG.
I. Other Assistance:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG.
13112 13
38
13 12 12 37 1 1
138
I
TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly! Non Elderly Units"):
1.1f TOTAL UNITS is less than "Total Project Unit's" Sh01413 on HCD Schedule DI, report the remainder as instructed below. 1
Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
E] Replacement Housing Units incfusionary Units: Other Housing Units Provided:
(Sch HOD-D2) ri Inside Prnic.r-t Area ( ch Firri-D3) 0 Without LNIIHF (Sch HCD-D6)
0 Outside Project Arca (Sc-h HCD-D4) 0 No Assistance (Sch HCD-07)
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D5
Sch 05 (7/1108)
Page 2 of 2
-Ag1
SCHEDULE HCD-D5
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITH LNIIHF)
(units not claimed on Schedule D-2,3,4,6,7)
(lack minimum replacement or inclusionary restrictions and/or not controlled by agency or community)
Agency: Culver Ci
Redevelopment Project Area Name, or "Outside": Culver City Redeve
lopment Proj ec t
Housing Project Name: Housing Rights
Center
Check only one:
El Inside Project Area ID Outside Project Area
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
El Agency Developed 0 Non-Agency Developed
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
0 Rental El Owner-Occupied
Enter the number of units for each applicable activity below:
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
A. New Construction Units (non replacement/non inclusionary):
Elderly Units Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
B. Substantial Rehabilitation Units (value increase with land > 25% (non replacement/non inclusionary):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
CITYWIDE
1
C. Non-Substantial Rehabilitation Units:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
D. Acquisition of Units Only (non acquisition of affordability covenants for inclusionaly credit):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
E. Niobilehome Owner / Resident:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL iNELG. VLOW LOW MOD TOTAL INELG.
Mobilehome Park Owner! Resident:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
Cal iforaia Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D5
SchD5 (7/1/01)
Page 1 of 2
/1"Agency Name:
Culver City
Housing Project
Name: Housing Rights Center
SCHEDULE HCD-D5
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITH LIVIIHF) (continued)
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
G. Preservation (H&S 33334.2(e)(11) Threat of Public Assisted/Subsidized Rentals Converted to Market):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOirv' LOW MOD TOTAL iNELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
1
H. Subsidy (other than any activity already reported on this form):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
Other Assistance:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL fNELG. VLOW LOW MOD TOTAL INELG.
15 9 10 34
198 123 97 418 30 ,213 132 107 452 30
1452
TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly/ Non Elderly Units"):
If TOTAL UNITS is less than "Total Project Units" shown on HCD Schedule D1, report the remainder as instructed below.
Check all appropriate form(s) fisted below that will be used to identify remaining Project Units to be reported:
0 Replacement Housing Units Inclusionary Units: Other Housing Units Provided:
(Sch HCD-D7) ri in q irL= Prnj-t a rea (c'-ch Hr"D-n3) El Without LIVIIFIF (Soh HCD-D6)
111 Outside Project Area (Sch HCD-D4) 0 No Assistance (Sch HCD-07)
Calfornia Redevelopment Agencies - Fiscal Year 2007-2008
11CD-05
Sell 05 (7/1/DS)
Page 2 of 2
AI/SCHEDULE HCD-05
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITH LMIHF)
(units not claimed on Schedule D-2,314,6,7)
(lack minimum replacement or inclusionanr restrictions and/or not controlled by agency or community)
Agency: Culver City
Redevelopment Project Area Name, or "Outside": Culver
City Redevelopment Project
Affordable Housing Project Name! NP1D family)
Check only one:
0 Inside Project Area LI Outside Project Area
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
D Agency Developed 0 Non-Agency Developed
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
0 Rental rq. Owner-Occupied
Enter the number of units for each applicable activity below:
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
A. New Construction Units (non replacement/non inclusionary):
Elderly Units Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
B. Substantial Rehabilitation Units (value increase with land > 25% (non replacement/non inclusionant):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL 1NELG.
C. Non-Substantial Rehabilitation Units:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL 1NELG.
8 1
1 3
4
9
4
13
D. Acquisition of Units Only (non acquisition of affordability covenants for inciusionary credit):
Elderly Units Non Elderly units TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
E. Mobilehome Owner / Resident:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL INELG.
I I 1 F. Mobilehome Park Owner / Resident:
Elderly Units
I I
TOTAL Elderly & Non Elderly Units Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL MIELG.
Caiforriia Redeveloprnent Agencies - Fiscal Year 2007-2008
HCD-D5
Schla5 (7/1/08)
Page 1 o12 .Agency Name: Culver City Housing Project Name:
NPP s ng le f anti ly )
SCHEDULE HCD-D5
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITH LMIHF) (continued)
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
G. Preservation (H&S 33334.2(e)(11) Threat of Public Assisted/Subsidized Rentals Converted to Market):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOIN LOW MOD TOTAL lNELG. VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL MELO.
H. Subsidy (other than any activity already reported on this form):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL MEL&
Other Assistance:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
Ii
TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly! Non Elderly Units"):
13
If TOTAL UNITS is less than "Total Project Units" shown on HCD Schedule DI, report the remainder as instructed below.
Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
0 Replacement Housing Units Inclusionary Units: Other Housing Units Provided:
(Sch HCD-D7) 0
Inside Project Area ( cli H e-D-n 3) L I-1 Without LIMIFIF (Sch HCD-DS)
0 Outside Project Area (Soh HCD-D4) 0 No Assistance (Sch HCD-D7)
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D5
Sch D5 (7/1108)
Page 2 of 2SCHEDULE HCD-D5
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITH LMIHF)
(units not claimed on Schedule D-2,3,4,6,7)
(lack minimum replacement or inclusionary restrictions and/or not controlled by agency or community)
Agency: Culver City
Redevelopment Project Area Name, or "Outside": Cu lver
City Redevelopment Project
Affordable Housing Project Name:
1N-Pla (Jack son)
Check only one:
El Inside Project Area rj Outside Project Area
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
El Agency Developed [11 Non-Agency Developed
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
fff Rental LI Owner-Occupied
Enter the number of units for each applicable activity below:
Note: "lNELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
A. New Construction Units (non replacement/non inclusionary):
Elderly Units Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
B. Substantial Rehabilitation Units (value increase with land > 25% (non replacement/non inclusionary):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
C. Non-Substantial Rehabilitation Units:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG.|1010| 3.
7 1
8
D. Acquisition of Units Only (non acquisition of affordability covenants for inclusionary credit):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL lNELG. VLOW LOW MOD TOTAL INELG.
E. Mobilehome Owner! Resident:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
Jr
{
11 I
F. Mobilehome Park Owner! Resident:
Elderly Units
No Elderly Units
TOTAL Elderly 8. Non Elderly Units
VLOW LOW MOD TOTAL INELO, VLOVV LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG.
California Redevelopment Agencies - Fiscal Year 2007-2008
HO 0-05
SchD5 (7/1/08)
Page 1 of 2Agency Name: Cu lver City
Housing Project Name: NPP (Jackson) on)
SCHEDULE HCD-D5
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITH LNIIHF) (continued)
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
G. Preservation (H&S 33334.2(e)(11) Threat of Public Assisted/Subsidized Rentals Converted to Market):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLDW LOW MOD TOTAL INELG.
H. Subsidy (other than any activity already reported on this form):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL iNELG. VLOW LOW MOD TOTAL INELG.
f
I. Other Assistance:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly / Non Elderly Units"):
If TOTAL UNITS is less than "Total Project Units" shown on HCD Schedule DI, report the remainder as instructed below. I
Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
E Replacement Housing Units Inclusionary Units: Other Housing Units Provided:
(Sch HCD-D2)
InQirra, prnp,t
Area
(Qrt HPF1_513) Without ',UHF (Sch HOD-D6)
D Outside Project Area (Sch HCD-D-4) El No
It
(Sch HOD-D7)
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D5
Sch 05 (711100
Page 2 of 2Non Elderly Units
Mobilehorne Park Owner! Resident:
Elderly Units
111111 III I
TOTAL Elderly & Non Elderly Units
SCHEDULE HCD-D5
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITH LMIHF)
(units not claimed on Schedule D-2,3,4,6,7)
(lack minimum replacement or inclusionary restrictions and/or not controlled by agency or community)
Agency: Culver City
Redevelopment Project Area Name, or "Outside": Culver City Redevelopment Project
Affordable Housinn Prrq Pnt tOMP:
NPP (multi))
Check only one:
LI
Inside Project Area D outside Project Area
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
0 Agency Developed 0 Non-Agency Developed
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
0 Rental D Owner-Occupied
Enter the number of units for each applicable activity below:
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
A. New Construction Units (non replacement/non inclusionary):
Elderly Units Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
Substantial Rehabilitation Units (value increase with land > 25% (non replacement/non inclusionary):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
C. Non-Substantial Rehabilitation Units:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.|1010| 1
4
1
15 5
10 30 6
16 7
11 34
D. Acquisition of Units Only (non acquisition of affordability covenants for inclusionary credit):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOO TOTAL INELG.
E. Mobilehome Owner! Resident:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL IND G.
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG,
California Redevelopment Agencies Fiscal Year 2007-2908
HCD-D5
SchD5 (7/1 /08)
Page 1 of 2Housing Project Name: NPP (multi)
lti )
Agency Name:
Culver City
SCHEDULE HCD-D5
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITH LIVIIHF) (continued)
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
G. Preservation (H&S 33334.2(e)(11) Threat of Public Assisted/Subsidized Rentals Converted to Market):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOIN LOW MOD TOTAL NELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
H. Subsidy (other than any activity already reported on this form):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
I. Other Assistance:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG.
TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly / Non Elderly Units"):
13 4
IIf TOTAL UNITS is less than "Total Project Units" shown on HCD Schedule DJ, report the remainder as instructed below. i
Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
D Replacement Housing Units Inclusionary Units: Other Housing Units Provided:
(Sch HOD-D2) 0 !n*L= Project Area (Sch Hr D-D3) [M Without LMIHF (Sch HCD-D6)
0 Outside Project Area (Sch HOD-D4) 0 No Assistance (Sch HCD-D7)
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D5
Sch D5 (7/1108)
Page 2 of 2I
I/ II
II
SCHEDULE HCD-D5
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITH LIVIII-19
(units not claimed on Schedule D-2,3,4,6,7)
(lack minimum replacement or inclusionary restrictions and/or not controlled by agency or community)
Agency: Culver City
Redevelopment Project Area Name, or "Outside": Culver
City Redevelopment Proj ect
Affordable Housing Projer:1- Name :
Rental Assistance Program
CITYWIDE
Check only one:
III inside Project Area 0 Outside Project Area
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
D Agency Developed lil Non-Agency Developed
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
Eli Rental 0 Owner-Occupied
Enter the number of units for each applicable activity below:
Note: ``INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
A. New Construction Units (non replacement/non inclusionary):
Elderly U nits Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL 1NELG. VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
B. Substantial Rehabilitation Units (value increase with land 25% (non replacernent/non inclusionary):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL 1NELG. VLOW LOW MOD TOTAL INELG.
C. Non-Substantial Rehabilitation Units:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL iNELG. VLDA/ LOW MOD TOTAL INELG.
a Acquisition of Units Only (non acquisition of affordability covenants for inclusionary credit);
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL 1NELG.
Mobilehome Owner Resident:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
Mobilehome Park Owner I Resident:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL /NELG. VLOVV LOW MOD TOTAL INELG,
California Redevelopment Agencies - Fiscal Year 2007-2008
FICD-D5
SchD5 (7/1/08)
Page 1 of 2
Li2 3 4 29 3 26 32 28
Agency Name: Culver City Housing Project Name: Rental Assistance
Program
SCHEDULE HCD-D5
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITH LMIHF) (continued)
Note: "lNELG" refers to a household that is no longer eligible but still a temporary resident and part Of the total
G. Preservation (HIS 33334.2(e)(11) Threat of Public Assisted/Subsidized Rentals Converted to Market):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLDVIi LOW MOD TOTAL iNELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
H. Subsidy (other than any activity already reported on this form):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL INELG. VLOVV LOW MOD TOTAL MELO.
Other Assistance:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL lNELG. VLOW LOW MOD TOTAL INELG.
TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly/ Non Elderly Units"):
32(
If TOTAL UNITS is less than "Total Project Units" shown on HCD Schedule DI, report the remainder as instructed below.
Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
E] Replacement Housing Units Inclusionary Units: Other Housing Units Provided:
(Sch HCD-D7) El inside Prnpr--t Area ( c:ch HCD-D3) ni 1.4.lithout liillHF (Sch 1-ICD-D6)
C1 Outside Project Area (Sch FICD-D4) 0 No Assistance (Sch HCD-D7)
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D 5
Sch D5 (7/1/08)
Page 2 of 2
L1SCHEDULE HCD-D6
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITHOUT LMIHF)
(units not claimed on Schedule D-2,3,4,5,7)
(units without minimum affordability restrictions and/or units that agency or community does not control)
Agency: Culver City
Redevelopment Project Area Name, or "Outside": Culver City Redevelopment Project
Alternative -riving
for the Aging
Check only one:
El inside Project Area
Li
Outside Project Area
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
Ei Agency Developed 0 Non-Agency Developed
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
0 Rental 0 Owner-Occupied
Enter the number of units for each applicable activity below:
Note: "INELG" refers to a household that is no longer eligible but still a temporal)/ resident and part of the total
A. New Construction Units:
Elderly Units Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
B. Substantial Rehabilitation Units (increased value, inclusive of land, is > 25%):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
C. Other Non-Substantial Rehabilitation Units:
Elderly Units Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
EEl
D. Acquisition Only:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AA/701J TOTAL
E. Mobilehome Owner! Resident:
Elderly Units
Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
1=1 F. Mobilehome Park Owner / Resident:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D6
Sch D6 (7/112008)
Page 1 of 2
.ce)
lb I
lLJHousing Project Name:
Alternative Living for
Culver City
Agency Name: SCHEDULE HCD-D6
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITHOUT LMIHF) (continued)
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
G. Preservation of Public Assisted Rentals At-Risk of Converting to Market Rent (H&S 33334.2(e)(11):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
f H. Replacement of Public Assisted At-Risk Units Without LMIHF (H&S 33334.3(h):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL
Replacement of Other (not at-risk) Rental Units Without LMIHF (H&S 33334.3(f)(1 )(A):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AlillOD TOTAL, VLOW LOW MOD AMOD TOTAL
J. Subsidy (other than any activity already reported on this form):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
K. Other Assistance:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOW LOW MOD Alle7OD TOTAL
7 =1 8
TOTAL UNITS (Add only TOTAL of all "TOTAL Eidedy I Non Elderly Units"):
II |1010|If TOTAL UNITS is less than "Total Project Units" shown on IICD Schedule DI, report the remainder as instructed below.
Check aii appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
0 Replacement Housing Units lnclusionary Units: Other Housing Units Provided:
(Sch HCD-D2) 0 Inside Project Area (Sch HCD-D3) El With LIVIII-IF (Sch HCD-D5)
0 Outside Project Area (Sch HCD-D4) 0 No Assistance (Sch HCD-D7)
California Redevelopment Agencies - Fiscal Year 2007-2003
HCD-D6
Sell D6 (7/1108)
Page 2 of 2
IISCHEDULE HCD-D6
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITHOUT LMIHF)
(units not claimed on Schedule D-2,3,4,5,7)
(units without minimum affordability restrictions and/or units that agency or community does not control)
Agency: Culver City
Redevelopment Project Area Name, or "Outside": Culver City Redeye lopment Proj e ct
Affordable Housing Project Name: Culver Terrace Mobile Home
Check only one:
Eli Inside Project Area 0 Outside Project Area
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
D Agency Developed LI Non-Aaency Developed
Check only one. If both apply, complete a separate form for each (with another Soh-D1):
El Rental 2 Owner-Occupied
Enter the number of units for each applicable activity below:
Note: 'MEW" refers to a household that is no longer eligible but still a temporary resident and part of the total
A. New Construction Units:
Elderly Units
Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
B. Substantial Rehabilitation Units (increased value, inclusive of land, is > 25%):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
L 1
C. Other Non-Substantial Rehabilitation Units:
Elderly Units Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
37
37
D. Acquisition Only:
Elderly Units
Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
E. Mobilehome Owner / Resident:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
F. Mobilehome Park Owner! Resident:
Elderly Units
Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D6
Sch D6 (7/1/2008)
Page 1 of 2Agency Name: Culver City
Housing Project Name:
Culver Terrace Mobile
!tame
SCHEDULE HCD-D6
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITHOUT LMIHF) (continued)
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
G. Preservation of Public Assisted Rentals At-Risk of Converting to Market Rent (H&S 33334.2(e)(11):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL
171
H. Replacement of Public Assisted At-Risk Units Without LMIHF (H&S 33334.3(h):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
Replacement of Other (not at-risk) Rental Units Without LMIHF (H&S 33334.3(f)(1)(A):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AN1OD TOTAL VLOW LOW MOD AN1OD TOTAL
J. Subsidy (other than any activity already reported on this form):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
WOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
C=
K. Other Assistance:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
ft_. 7
TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly / Non Elderly Units"):
If TOTAL UNITS is less than "Total Project Units" shown on HCD Schedule DJ, report the remainder as instructed below.
Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
0 Replacement Housing Units inclusionaly Units: Other Housing Units Provided:
(Sch HCD-D2) 0 Inside Project Area (Sch HCD-D3)
0 Outside Project Area (Sch HCD-D4) 0 No Assistance (Sch HCD-D7)
With LMIHF (Sch HCD-D5)
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D6
Sch D6 (7/1/08)
Page 2 of 2
CASCHEDULE HCD-D6
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITHOUT LMIHF)
(units not claimed on Schedule
(units without minimum affordability restrictions and/or units that agency or community does not control)
Agency: Culver City
Redevelopment Project Area Name, or "Outside":
Culver City Redevelopment Proj ect
Affordal-Ac Project. Name: Housing Rights C:enter CITYWIDE
Check only one:
1I1 Inside Project Area 0 Outside Project Area
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
0 Agency Developed 0 Non-Agency Developed
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
0 Rental 0 Owner-Occupied
Enter the number of units for each applicable activity below:
Note: "lNELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
A. New Construction Units:
Elderly Units
Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
B. Substantial Rehabilitation Units (increased value, inclusive of land. is > 25%):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
Li
ru
C. Other Non-Substantial Rehabilitation Units:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL
Li
D. Acquisition Only:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOW LOW MOD Aili7OD TOTAL
E. Mobilehome Owner! Resident:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL|10109| ) !=
1 1 11 11
I ll
F. MoblIehome Park Owner Resident:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL
cii
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D6
Sch D6 (7/112008)
Page 1 of 2VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOW LOW
30 30
MOD AMOD TOTAL
30 M
Agency Name: Culver City
Housing Project Name: Housing Rights Ctr.
SCHEDULE HCD-D6
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITHOUT LMIHF) (continued)
Note: "lNELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
G. Preservation of Public Assisted Rentals At-Risk of Converting to Market Rent (H&S 33334.2(e)(11):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
Eli
LJ
H. Replacement of Public Assisted At-Risk Units Without LMIHF (H&S 33334.3(h):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
I. Replacement of Other (not at-risk) Rental Units Without LMIHF (H&S 33334.3(f)(1 )(A):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
J. Subsidy (other than any activity already reported on this form):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
K. Other Assistance:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly / Non Elderly Units"):
TIM
If TOTAL UNITS is less than "Total Project Units" shown on HCD Schedule DJ, report the remainder as instructed below.
Check an appropriate form(s) listed below that wiii be used to identify remaining Project Units to be reported:
0 Replacement Housing Units Inclusionary Units: Other Housing Units Provided:
(Sch HCD-D2) EI Inside Project Area (Sch HCD-D3) Es 1 With LIVI1FIF (Sch HCD-D5)
ID Outside Project Area (Sch HCD-D4) El No Assistance (Sch HCD-D7)
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D6
Sell D6 (7/1/08)
Page 2 of 2SCHEDULE HCD-D6
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITHOUT LIVI11-1F)
(units not claimed on Schedule
(units without minimum affordability restrictions and/or units that agency or community does not control)
Agency: Culver City
Redevelopment Project Area Name, or "Outside":
Culver City Redevelopment Project
A .r•-•rdabIe Elousing Project Name: NPF (multi)
Check only one:
Inside Project Area Li Outside Project Area
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
Agency Developed LIJ Non-Agency Developed
Check only one. If both apply, complete a separate form for each (with another Sch-D1):
D Rental 0 Owner-Occupied
Enter the number of units for each applicable activity below:
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
A. New Construction Units:
Elderly Units
Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD AMOD TOTAL VLOVV LOW MOD ANIOD TOTAL VLOW LOW MOD AMOD TOTAL
LI
LI
B. Substantial Rehabilitation Units (increased value, inclusive of land, is > 25%1:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
1.111|1010|C. Other Non-Substantial Rehabilitation Units:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
ry
6
7
D. Acquisition Only:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
Eli
E. Mobilehome Owner! Resident:
Elderly Units
Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
I 1|109| 1I 1|109|1 1 1 I|109| I
II I
L I
F. Mobiiehome Park Owner / Resident:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
LI
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D6
Sell DO (71]/2000
Page 1 of 2Agency Name:
Culver City
NPP (multi)
Housing Project Name: SCHEDULE HCD-D6
OTHER HOUSING UNITS PROVIDED (AGENCY ASSISTANCE WITHOUT LMIHF) (continued)
Note: "lNELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
G. Preservation of Public Assisted Rentals At-Risk of Converting to Market Rent (H&S 33334.2(e)(11):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOVV LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL
FL Replacement of Public Assisted At-Risk Units Without LMIHF (H&S 33334.3(h):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
I. Replacement of Other (not at-risk) Rental Units Without LMIFIF (H&S 33334.3(f)(1 )(A):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD MOOD TOTAL VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL
J. Subsidy (other than any activity already reported on this form):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL
Other Assistance:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD AMOD TOTAL VLOW LOW MOD AMOD TOTAL VLOVV LOW MOD AMOD TOTAL
TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly / Non Elderly Units"):
.1
If TOTAL UNITS is less than "Total Project Units" shown on HCD Schedule Di, report the remainder as instructed below.
Check all appropriate form(s) listed helot. , that tviii be used to identify remaining Project Units to be reported:
LI
Replacement Housing Units Inclusionary Units: Other Housing Units Provided:
(Sch HCD-D2) Ej Inside Project Area (Sch HCD-D3) [Z With LMIFIF (Sch HCD-O5)
fl
Outside Project Area (Sch HCD-D4) Ei No Assistance (Sch HUD-D7)
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D6
Sch D6 (7/U08)
Page 2 of 2
e"0|10 10|BUILDING PERMIT NUMBER BUILDING PERMIT DATE
SCHEDULE HCD-D7
HOUSING UNITS PROVIDED (NO AGENCY ASSISTANCE)
(units not claimed on Schedule D-2,3,4,5,6)
Agency: Culver City
Redevelopment Project Area Name, or "Outside":
Culver City Redevelopment Project
Housing Project Name: NOTE: On this form, only report UNITS NOT REPORTED on HCD-D2 through HCD-D6 for project/program units that
have not received any agency assistance. Agency assistance includes either financial assistance (LMIHF or other agency
finds,) or 710 11filVirleial aN40.47PrP ('design, planning; PIC) provided by vent" citify: In some rovoc, of the total lenity reported
on IICD D1, a portion of units in the same project/program may be agency assisted (reported on IICD-D2 through IICD-D6)
whereas other units may be unassisted by the agency (reported on HCD-D7).
The intent of this form is to: (1) reconcile any difference between total project/program units reported on HCD-D1 compared
to the sum of all the project's/program's units reported on HCD-D2 through HCD-D6, and (2) account for other (nonassisted)
housing units provided inside a project area that increases the agency's inclusionary obligation. Reporting nonazency
assisted projects outside a project area is optional, if units do not make-up any part of total units reported on HCD-D1.
HCD-D7 Reportinz Examples
Example 1 (reporting partial units): A new 100 unit project was built (reported on HCD-D1, Inside or Outside a project area).
Fifty (50) units received agency assistance 130 affordable LMIHF units (reported on either HCD-D2, D3, D4, or D5) and 20
above moderate units were funded with other agency funds (reported on HCD-D6)1. The remaining 50 (privately financed
and developed market-rate units) must be reported on HCD-D7 to make up the thfference between 100 reported on DI and 50
reported on D2-D6).
Example 2 (reporting all units): Inside a project area a condemned, historic property was substantially rehabilitated (multi-
family or single-family), funded by tax credits and other private financing without any agency assistance.
Check whether Inside or Outside Project Area in completing applicable information below:
El INSIDE Project Area
Enter the number for each unit type for each applicable activity:
ACTIVITY:
New Construction Units:
Substantial Rehabilitation Units:
Total Units:
If agency did not assist any part of project
identify Building Permit Number and Date:
OUTSIDE Project Area
Enter the number for each unit type for each applicable activity:
UNIT TYPE: VLOW
LOW
MOD
AMOD
TOTAL|1010| 0
ACTIVITY: UNIT TYPE: VLOW
LOW
MOD
AMOD
TOTAL
New Construction Units:|10 10|Substantial Rehabilitation Units:|10 10|Total Units:|10 10|If agency did not assist am' part of project
identify Building Permit Number and Date: BUILDING PERMIT NUMBER BUILDING PERMIT DATE
Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
0 Replacement Housing Units Inclusionary Units: Other Housing Units Provided:
(Sch HCD-132) 0 Inside Project Area (Sch HCD-D3) El With LMIHF (Sch HCD-D5)
El Outside Project Area (Sch HCD-D4) 111 Without LMIHF (Sch HCD-D6)
Califomia Redevelopment Agencies - Fiscal Year 2007-2008
HCD-D7
Sch 07(7/1/08)SCHEDULE HCD-E
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION
BASED ON SPECIFIED HOUSING ACTIVITY DURING THE REPORTING YEAR
Agency: Culver City
Name of Project or Area (if applicable, list "Outside" or "Summary": Culver City Redevelopment
Proj
Complete this form to report activity separately by project or area or to summarize activity for the year.
Report all new construction and/or substantial rehabilitation units from Forms D2 through D7 that were:
(a) developed by the agency and/or (b) developed only in a project area by a not:agency person or e-4-y
PART I ['MSC Section 33413(b)(1)}
AGENCY DEVELOPED UNITS DURING THE REPORTING YEAR
BOTH INSIDE AND OUTSIDE OF A PROJECT AREA
1. New Units Developed by the Agency|10 10|2. Substantially Rehabilitated Units Developed by the Agency|10 10|3. Subtotal - Baseline of Agency Developed Units (add lines 1 & 2)
4. Subtotal of Increased Inclusionary Obligation (Line 3 x 30%) (see Notes 1 and 2 below)|10 10|5. Very-Low Inclusionary Obligation Increase Units (Line 4 x 50%)
Ifl
PART II [H&SC Section 33413(b)(2)]
NONAGENCY DEVELOPED UNITS DURING THE REPORTING YEAR
ONLY INSIDE A PROJECT AREA
6. New Units Developed by Any Nonagency Person or Entity 0
7. Substantially Rehabilitated Units Developed by Any Nonagency Person or Entity 0
8. Subtotal - Baseline of Nonagency Developed Units (add lines 6 & 7) 0
9. Subtotal of Increased Inclusionaly Obligation (Line 8 x 15%) (see Notes] and 2 below) 0
10. Very-Low Inclusionary Obligation Increase (Line 9 x 40%)
H
PART Ill REPORTING YEAR TOTALS
11. Total Increase in Inc lusionary Obligation (add lines 4 and 9) 0
12. Very-Low Inclusionary Obligation Increase (add line 5 and 10) (Line 12 is a subset of Line 11)
I 0
******************************************************************************************************************************
NOTES:
1. Section 33413(b)(1), (2), and (4) require agencies to ensure that applicable percentages (30% or 15%) of
all (market-rate and affordable) "new and substantially rehabilitated dwelling units" are made available
at affordable housing cost within 10-year planning periods. Market-rate units: units not assisted with
low-mod funds and jurisdiction does not control affordability restrictions. Affordable units: units
generally restricted for the longest feasible time beyond the redevelopment plan's land use controls and
jurisdiction controls affordability restrictions. Agency developed units: market-rate units can not exceed
70 percent and affordable units must he at least 30 percent; however, all units assisted with low-mod
funds must he affordable. Nonagency developed (project area) units: market-rate units can not exceed
85 percent and affordable units must be at least 15 percent.
2. Production requirements may be met on a project-by-project basis or in aggregate within each 10-year
planning period. The percentage of affordable units relative to total units required within each 10-year
planning period may he calculated as follows:
AFFORDABLE units = Market-rate x (30 or .15) TOTAL units = Market-rate or Affordable
(70 or .85) (.70 or .85) (30 or .15)
California Redevelopment Agencies - Fiscal Year 2007-2008
HCD-E
Sch E-1 (7/01/08)ATTACHMENT 2
REDEVELOPMENT AGENCIES
FINANCIAL TRANSACTIONS REPORT
COVER PAGE
Culver City Redevelopment Agency
Fiscal Year: 2008 ID Number: 13981922800
Submitted by:
Signature
Name (Please Print)
Title
Date
Per Health and Safety Code section 33080, this report is due within six months after the end of the fiscal year. The report is to
include two (2) copies of the agency's component unit audited financial statements, and the report on the Status and Use of
the Low and Moderate Income Housing Fund (HCD report), To meet the filing requirements, all portions must be received by
the California State Controllers Office.
To file electronically:
1. Complete all forms as necessary.
2. Transmit the completed output file using a File
Transfer Protocol (FTP) program or via diskette.
a. Sign this cover page and mail to either address
below with 2 audits and the HCD report.
Report will not be considered filed until receipt of this
signed cover page.
Mailing Address:
State Controller's Office
Division of Accounting and Reporting
Local Government Reporting Section
P. a Box 942850
Sacramento, CA 94250
To file a paper report:
1. Complete all forms as necessary.
2. Sign this cover page, and mail complete report to either
address below with 2 audits and the HCD report.
Express Mailing Address:
State Controller's Office
Division of Accounting and Reporting
Local Government Reporting Section
3301 C Street, Suite 700
Sacramento, CA 95816
6oSupplement to the Annual Report of Community Redevelopment Agencies
Redevelopment Agency ID Number:
, Name of Redevelopment Agency:
1 39 81 9 2280 0
Culver City Redevelopment Agen
Mark the appropriate box below to indicate the ending date of your agency's fiscal year. Report
data for that period only.
E September 2007 December 2007 rC. c June 2008
Return this form to the California State Controller's Office. If you have any questions
regarding this form please contact:
U.S. Bureau of the Census, Shannon Doyle, 1-800-242-4523
A. Personnel Expenditures
Report your government's total expenditures for salaries and wages during the year, including
amounts paid on force account construction projects.
B. Mortgage Revenue Bond Interest Payments
Report your government's total amount of interest paid on mortgage revenue bonds during the
year
u2o
0
1_13 Bureau of the Census —Revised 6/2008
60, (FirstName
Middle
Phone
Initial
. . .
Chairperson
Member
Member
Member
Member
Member
Member
Member
Member
Member
eissman
Andrew
[ElTri P L-fre'r-7 [ j
Vaisin 1-6-.-scctt
10"Leary I I—HA
gmbiger [Gary 1 I I
E Li
:111
IIT
y•__• 1 -7
Mailing Address
7, 1 97 0 Culver Boulevard
[Cui%;- er State ICA
J
Zip r922--'0507]
Phone pi0) 253-5865 j riffl is Address Changed?
Street 1
Street 2
City
Iver City Redevelopment Agency
•L , • • - „ .• ... • . .
••• General information •
• • • .....
Fiscal Year 2008-
Agency Officials -
Members of the Governing Body
Middle Last Name
Last Name First Name initial
Executive Director tulwOacl
. . ._. 1 rry —1 [ 010) 253-6000
.• .• 1 r-
Fiscal Officer rFwir 2 53 'Jeff L -1 010) -6016 j
, --- , .„ __ ,
Secretary [Prasad 1 . i/L-lic .e _,
----] 1 pi 0} 253-5704 i
_
:., „
-Report Prepared-By , Independent Auditor
Firm Name
Last Parker
Firit • rsia hen
Middle L_ P
Initial
city. .
State,.
IcA Ti _
Zip Code [92612-
Phone- l(949) 474-2020
F2301 D- u -i- r;nt Driva- uTte 201
11-vine
IIV r ier Hoffman McCann PL.
t li;Wrker
—
M
2301 Dupont Drive, Suite 200
rvine
[93612-
049)-4741.2020 —
IiTi
Page 1 1219/2008 General informationAchievement Information (Unaudited)
Fiscal Year 2008
Agency etefqpent
Indicate Only Those Achievements Completed During the Fiscal Year of this Report as a Direct Result
of the Activities of the Redevelopment Agency.
Please provide a description of the agency's
activities/accomplishments during the past
year.
(Please be specific, as this information will
be the basis for possible inclusion in the
publication.)
During Fiscal Year 2007-08, Agency accomplishments included the following:
1.Washington/National Development Site:
Project planning and programming was revised to address the Redevelopment
Agency's directives. The modified project was presented to the Agency in March
2008. Also continued coordination work with the Expo rail authority for the
construction of the light rail line to this site.
2.Washington/Centinela Development Site:
This project is comprised of 1.5 acres at the northwest and northeast corners of
Washington Boulevard and Gentinala Avenue, The Agency issued a new Request
for Proposal, evaiutated responses and selected a developer to negotiate a
Disposition and Development Agreement for the sale and development of the site.
3.Baldwin Development Site:
The Agency entered into a Disposition and Development Agreement with Axis
Mundi RE II, LLC for the sale and development of the site into a 37,000 square
foot commercial building, and a public parking tot.
4.Sepulveda Boulevard Development Site:
Terminated the Exclusive Negotiation Agreement with Champion Development
and began further work with the City's Planning Division staff and the public to
update the planning for this site as part of the General Plan update.
5. Pleasant View Development Site:
Square Footage Completed
Enter the amount of square
footage completed this year by
building type and segregated by
new or rehabilitated construction.
Commercial Buildings
Industrial Buildings
Public Buildings
Other Buildings
Total Square Footage
Enter the Number of Jobs Created
from the Activities of the Agency
Types Completed
A=Utilities B =Recreation C=Landscaping D=Sewer/ Storm E=Streets/ Roads
F=Busgransit
New
Rehabilitated
Construction
01 [ 0
3,050
Achievement Information (Unaudited) Page 1 1218/2008yRedeeIopfl
FinanciaI
Achievement Information (Unaudited)
ed64,0
The former Pieasantview home was demolished. The adjoining property was
acquired to enlarge the development site. Request for Proposal were issued and
responses were evaluated with the Agency electing to reject all and wait for better
market conditions.
6.Parcel B Development Site arid Town Plaza Expansion
The realignment of Washington Boulevard was completed. Escrow opened for the
sale of Parcel B. Design of the expanded Town Plaza was completed.
7.Corporate Pointe
The Agency and IDS Realty executed the 12th Amendment to the Corporate
Pointe DDA and related documents, to pave the way for development of a 280,000
square foot office tower, which will complete the build-out of the Corporate Pointe
office park.
•8.Hayden Tract
•Preliminary planning and design was conducted for the future development of the
•former MTA Spur easement with parking for Hayden Tract businesses using green -
building principles.
9.Public Works Improvements
Agency funds were used to supplement the funding for the asphalt resurfacing of
Washington Boulevard, between Sepulveda Boulevard and Elenda Street. Also
Agency funding was used for asphalt resurfacing on a portion of Culver Boulevard
between Keystone Avenue and Vinton Avenue.
10.Washington Boulevard
eveloped Area improvement Plans and a new commercial rehabilitation program
to revitalize public and private property along this major corridor within the
Redevelopment Project.
11 Economic Development
Opened the Business Resource Center to facilitate businesses in the Project
•Area. Existing businesses may receive assistance to allow them to remain or
expand in Culver City while new businesses may receive assistance in opening in
Culver City.
-
Achievement Information (Unaudited)
Page 2
12.18/2008ge
eni
,
Audit Information
Fiscal Year 2008
Was the Report Prepared from Audited Financial Data,
and Did You Submit a Copy of the Audit?
Indicate Financial Audit Opinion
If Financial Audit is not yet Completed, What is the
Expected Completion Date?
If the Audit Opinion was Other than Unqualified, State
Briefly the Reason Given
Was a Compliance Audit Performed in Accordance with
Health and Safety Code Section 33080.1 and the State
Controller's Guidelines for Compliance Audits, and Did
You Submit a Copy of the Audit?
if compliance opinion includes exceptions,
state the areas of non-compliance, and
describe the agency's efforts to correct,
[
YeS1
1.7-- Unqualified]
I
1218/200&j
Yes
fUnqualified Indicate Compliance Audit Opinion
If Compliance Audit is not yet Completed, What is the 12/8/20A
Expected Completion Date?
Audit Information 12/8/2008 Page 1ede-46.1;50kient enc—y
encIs FinanqiaTransactions, ,
Please Provide a Brief Description of
the Activities for this Project Area
During the Reporting Year.
Aittivitv Report
During Fiscal Year 2007-08, Agency 1,
accomplishments included the
following:
1.Washington/National Development
Site:
Project planning and programming
was revised to address the
Redevelopment Agency's directives.
The modified project was presented
to the Agency in March 2008. Also :!
continued coordination work with the
Expo rail authority for the
construction of the light rail line to
this site.
This project is comprised of 1.5
ores at the northwest and northeast
corners of Washington Boulevard
and Centineia Avenue. The Agency
issued a new Request for Proposal,
evalutated responses and selected a
developer to negotiate a Disposition
and Development Agreement for the
sale and development of the site.
2.VVashington/Centinela
Development Site:
r 11/23/1998
Yes]
L 11/23/1998]
Yes]
L. 20±43]
202.8]
2018
1,2861
F—
L 88.21
RICPO
Fiscal Year 1008-
Project Area Report
Project Area Name 1-Culver City Project Area
Forwarded from Prior Year '?
Enter Code for Type of Project Area Report
P re Standard Project Area Report
L = Low and Moderate Income Housing Fund
0 = Other Miscellaneous Funds or Programs
Does the Plan Include Tax Increment Provisions?
Date Project Area was Established (44M-OD-YY)
Most Recent Date Project Area was Amended
Did this Amendment Add New Territory?
Most Recent Date Project Area Was Merged
Will this Project Area be Carried Forward to Next Year?
Established Time Limit
Repayment of Indebtedness (Year Only)
Effectiveness of Plan (Year Only)
New Indebtedness (Year Only)
Size of Project Area in Acres
Percentage of Land Vacant at the Inception of the Project Area
Health and Safety Code Section 33320.1 (xx.x%)
Percentage of Land Developed at the Inception of the Project Area
Health and Safely Code Section 33320.1 (xx,x%)
Objectives of the Project Area as Set Forth in the Project Area Plan
(Enter The Appropriate Code(s) in Sequence as Shown)
R = Residential 1= Industrial C = Commercial P = Public 0 = Other
--f31
A = Administrative Fund
M = Mortgage Revenue Bond Program
$ = Proposed (Survey) Project Area
Yes]
Project Area Report
12/8/2008 Page 1ulyer mom a - - .
rZt.f;
pro4 uu
Assessed Valuation Data
Fiscal Year 2008
Project Area Name
Culver City Project Area
Frozen Base Assessed Valuation
544,398,48j 1
Increment Assessed Valuation
2,958,426,790 j
Total Assessed Valuation
3,502,825,2711
.Assessed Valuation Data
Page 1
12/8/2008Tax Increment Pass Through Detail Other Payments
Fiscal Year
Project Area Name
Amounts Paid To Taxing
Agencies Pursuant To:
H & S Code
Section 33401
H & S Code
Section 33676
H & S Code
Section 33607
H & S Code
Section 33445
H & S Code
Section 33445.5
Total
Pass-Through / School District Assistance
'—
12408
Culver City Project Area
County
Cities
Se% School Districts
00/
Community College District
Special Districts
Total Paid to Taxing
Agencies
Net Amount to Agency
Gross Tax Increment
Generated
Pass-Through / School District Assistance
Page 1 1218/2008Culver City Redevelopment Agency
RedevelOpment Agencies Financial Transactions eiciprt
Detailed Summary of Footnotes For Fiscal Year 2007 -08
Forms
Column Additional Details Footnotes
Pass Through /School District
ASS istarke
Total Paid to Taxri Agencjes PROJECT AREA NAME ,= The City amended its
'Culver City Project Area redevelopment plan in 1998
to make a merged
component area 4. The
other three component areas
were formed in the 1970's,
prior to AB 1290, therefore
• they were not subject to
pass through payments.
When the RDA amended
their plan in 1998, the new
component area 4 was
immediately subject to the
20% pass through
requirement, but the other
three did not need to start
making pass through
payments for five years, i.e.
FY 2004-05 and FY 2004-05
became the base year for
paying pass through,
therefore, the only increment
subject to the 20% pass
through for component areas
1-3 is the increment ABOVE
the base year of 2004-05.
Therefore, the total pass
through will be much less
than 20% of the gross for
component areas 1-3
because only that tax
increment above the 2004-
05 base year is subject, not
the entire amount.
Footnotes Page 1 12/8/2008
44`
Fiscal Year •
Project Area Name
2008-
'
I .VErCt
OVV1).1110.
•!. • !',11';:i!.F•iviU•i:c1V''''" •-•-•]- •
OV.elcigi#Olt AttOPOIOSif 011,010,U1
;
Summary of-theStatement -of Indebtedness - Project Area
Tax Allocation Bond Debt
206,061,129
Revenue Bonds
34,675,538
Other Long Term Debt
City/County Debt
n 505 650 0341
Low and Moderate Income Housing Fund
I —458,- 2-59,00
Other
,T4T1614-1 _,
Total
$1,238,792,595
‘.1 Available Revenues
r 19,775,567i
Net Tax Increment Requirements
1 $1,219.01-7,028
Summary of the Statement of Indebtedness - Project Area
Page 1 12/8/2008Agency Long-Term Debt
Fiscal Year
Project Area Name Culver City Project Area
Forward from Prior Year
Bond Type
Year of Authorization
Principal Amount Authorized
Principal Amount Issued
Purpose of Issue
Maturity Date Beginning Year
Maturity Date Ending Year
Principal Amount Unmatured Beginning of Fiscal Year
Adjustment Made During Year
Adjustment Explanation
Interest Added to Principal
Principal Amount Issued During Fiscal Year
Principal Amount Matured During Fiscal Year
Principal Amount Defeased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year
Principal Amount In Default
Interest In Default
To Fund Redevelopment Projects
J
[1. 20q
z:Ii
$1,031.151
Bond Types Allowed:
Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State;
Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other
Agency Long-Term Debt
Page 1 12/8/2008$1,550,000
= $1,550,000
2009
2001
Y.AVN4
!Loans
1.550,000
1,550,000
r
-r 2 fund redevelopment projects
Agency Long-Term Debt
Fiscal Year
Project Area Name
[i0O8
[- Culver City Project Area
Forward from Prior Year
Bond Type
Year of Authorization
Principal Amount Authorized
Principal Amount Issued
Purpose of Issue
Maturity Date Beginning Year
Maturity Date Ending Year
Principal Amount Unmatured Beginning of Fiscal Year
Adjustment Made During Year
chi
Adjustment Explanation
Interest Added to Principal
Principal Amount Issued During Fiscal Year
Principal Amount Matured During Fiscal Year
Principal Amount Defeased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year
Principal Amount In Default
Interest In Default
Bond Types Allowed:
Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State;
Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other
Agency Long-Term Debt
Page 2 12/8/2008eVelornnent
Vti01.1
ver
10 :11 -1-7ILM:LZ2
[Revenue Bonds
L. 19931
13,790,000
13,790,000
Financing
19931
2021
$1,695,666
r-- L_ $1,985,000
Agency Long-Term Debt
Fiscal Year
Project Area Name
[2008
[Quiver City Protect Area Forward from Prior Year
Bond Type
Year of Authorization
Principal Amount Authorized
Principal Amount Issued
Purpose of Issue
Maturity Date Beginning Year
Maturity Date Ending Year
Principal Amount Unmatured Beginning of Fiscal Year
Adjustment Made During Year
Adjustment Explanation
Interest Added to Principal
Principal Amount Issued During Fiscal Year
Principal Amount Matured During Fiscal Year
Principal Amount Defeased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year
Principal Amount In Default
Interest In Default
Bond Types Allowed:
Tax Allocation Bonds; Revenue Bends; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State;
Loans; Leese Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other
Agency Long-Term Debt Page 3 12/8/2008itver City 00V.0.0MoOt
Agency Long-Term Debt
Fiscal Year
Project Area Name
/2008
LCulyer City Protect Area
Forward from Prior Year
Bond Type
Year of Authorization
Principal Amount Authorized
Principal Amount Issued
Purpose of Issue
Maturity Date Beginning Year
Maturity Date Ending Year
Principal Amount Unmatured Beginning of Fiscal Year
Adjustment Made During Year
‘sa Adjustment Explanation
Interest Added to Principal
Principal Amount Issued During Fiscal Year
Principal Amount Matured During Fiscal Year
Principal Amount Deceased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year
Principal Amount In Default
Interest In Default
w7 . - pT,L7! , T,f ;J77]
Revenue Bonds
[ ____199s1
47,355,000
47,355,000
_oan Agreement
199-31
$11,770,000
L.
Bond Types Allowed:
Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State;
Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other
Agency Long-Term Debt . Page 4 12/8/2008Agency
edevelaiment AgehuleS IMU)tidloTransadbans
Agency Long-Term Debt
Fiscal Year
Project Area Name Culver City Project Area
Forward from Prior Year
Bond Type ; 1 :1 -- /enue Bonds
Year of Authorization L_ -.-. 31i
Principal Amount Authorized F--
—66,925,0001
Principal Amount issued r-----6-679-2-5,0001
Purpose of Issue [Operations —1
Maturity Date Beginning Year i _ 1993J
Maturity Date Ending Year T----- —20211
Principal Amount Unrnatured Beginning of Fiscal.Year J$14,770,000
1 0. < 1, Adjustment Made During Year 'I
‘.3 X Adjustment Explanation 1 1
Interest Added to Principal L.....17.1_______J
Principal Amount Issued During Fiscal Year L Principal Amount Matured During Fiscal Year F __I
Principal Amount Defeased During Fiscal Year L -1
Principal Amount Unmatured End of Fiscal Year $14,770,000 :
Principal Amount In Default
Interest in Default
Bond Typos Allowed:
Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State;
Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other
Agency Long-Term Debt
ulver e
eveiaPrnent
Page 5 12/8/2008ulver pity
*WM*
yl:'ao:00:01000,ko:
Fiscal Year
Project Area Name
[2008
rCulver City Preiect Area
J
19991
$25,160,000
r". r-
L 880,000
Agency Long-Term Debt
Forward from Prior Year
Bond Type
Year of Authorization
Principal Amount Authorized
Principal Amount Issued
Purpose of Issue
Maturity Data Beginning Year
Maturity Date Ending Year
Principal Amount Unmatu red Beginning of Fiscal Year
Adjustment Made During Year
Adjustment Explanation
Interest Added to Principal
Principal Amount Issued During Fiscal Year
Principal Amount Matured During Fiscal Year
Principal Amount Defeased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year
Principal Amount In Default
Interest In Default
-*1
[Tax Allocation Bonds
19961
31,940,000 I
31,940,0001
I
LL Be ries A
J
I $24,270,000
F-
r
Bond Types Allowed:
Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State;
Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other
Agency Long-Term Debt Page 6 12/8/2008L.
910,001(
$22,605,000
-]
Fiscal Year {2008 1
Project Area Name {quiver City Project Area
Forward from Prior Year
Bond Type
Year of Authorization
Principal Amount Authorized
Principal Amount Issued
Purpose of Issue
Maturity Date Beginning Year
Maturity Date Ending Year
Principal Amount Unmatured Beginning of Fiscal Year
Adjustment Made During Year
Adjustment Explanation
Interest Added to Principal
Principal Amount Issued During Fiscal Year
Principal Amount Matured During Fiscal Year
Principal Amount Defeased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year
Principal Amount In Default
Interest In Default
" [fax Allocation Bonds
201
[ 28,280,01221
28,280,00CJ
_
[ gi ries A
200-2'
202-51
r-TirgrMrl
Bond Types Allowed:
Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US:State;
Loans: Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other
Agency Long-Term Debt Page 7 1218/2008:di: tfIRAititkali .Trapta'atots .,,Ropti. , ••• .. . . • . ... • .
Agency Long-Term Debt
Fiscal Year
Project Area Name
loos
[ulver City Projpet Area
Forward from Prior Year
Bond Type
Year of Authorization
Principal Amount Authorized
Principal Amount issued
Purpose of Issue
Maturity Date Beginning Year
Maturity Date Ending Year
Principal Amount tin matured Beginning of Fiscal Year
Adjustment Made During Year
Adjustment Explanation
Interest Added to Principal
Principal Amount issued During Fiscal Year
Principal Amount Matured During Fiscal Year
Principal Amount Defeased During Fiscal Year
Principal Amount Unmatu red End of Fiscal Year
Principal Amount In Default
Interest in Default
[Tax Allocation Bonds
2004_1
Refund and Defease Certain Bonds
200111
---•--•••- 2023/
$74,175,000
r--
3,885,000 [
$70,290,000
Bond Types Allowed;
Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State;
Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other
Agency Long-Term Debt
Page 8
12/8/2008Agency Long-Term Debt
Fiscal Year
Project Area Name --'ulver City Project Area
Forward from Prior Year
Bond Type Tax Allocation Bonds
Year of Authorization
20051
Principal Amount Authorized 1731500J
Principal Amount Issued 17,313,- 12710j
Purpose of Issue
Maturity Date Beginning Year
Maturity Date Ending Year
Principal Amount Unmatured Beginning of Fiscal Year
Adjustment Made During Year
Adjustment Explanation
interest Added to Principal
Principal Amount Issued During Fiscal Year
Principal Amount Matured During Fiscal Year
Principal Amount Defeased During Fiscal Year
Principal Amount Unmatured End of Fiscal Year
Principal Amount In Default
Interest In Default
,1515- efease 1999 Series B Bonds
T •200N
$17,095,000
L 7-6-66-01
1
Bond Types Allowed:
Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US:State;
' Loans; Lease Obligations; Notes; Deferred Pass-Throughs: Deferred Compensation; Other
Agency Long-Term Debt Page 9 12/8/2008,Ros. opA
r-'17:771
City/County Debt
2008
----9700-0,000]
_ _
9,000,00o I
iCong-term borrowing
203.9.1
r—
L,
9,000,001 •
1.
$9,000,000
Agency Long-Term Debt
Fiscal Year
Project Area Name
r2008
Culver City Project Area Forward from Prior Year
Bond Type
Year of Authorization
Principal Amount Authorized
Principal Amount Issued
Purpose of Issue
Maturity Date Beginning Year
Maturity Date Ending Year
Principal Amount Unmatured Beginning of Fiscal Year
Adjustment Made During Year
Adjustment Explanation
hao
Interest Added to Principal
Principal Amount Issued During Fiscal Year
Principal Amount Matured During Fiscal Year
Principal Amount Defeased During Fiscal Year
Principal Amount Unmatureci End of Fiscal Year
Principal Amount In Default
Interest In Default
Bond Types Allowed:
Tax Allocation Bonds; Revenue Bonds; Certificates of Participation; Tax Allocation Notes; Financing Authority Bonds; City/County Debt; US;State;
Loans; Lease Obligations; Notes; Deferred Pass-Throughs; Deferred Compensation; Other
Agency Long-Term Debt Page 10 1202008Tilen
...00:*'1101041c1
:
Statement of Income and Expenditures - Revenues
LC_ulver City Project Area
Fiscal Year
Project Area Name
tfeticy
J I
so 1|1010|so i|10 10|so
L 2,076,862i 664,564F 588,495 $3,329,921
1,065,1011 1-- 70,500L I $1,135,601|109| ,.,
$0
so;
F
I
so
$o .,
I [ I
I
so :
_L. I
$0
1,304,639 [|1010|$1,304,639 1
r--$5—•a 3:7577-- 5 $664,564 $658,995 $0 $37,157,874
F 31,387,7131_ 0
Low/Moderate Special
Capital Project Debt Service Income Housing Revenue/Other
Funds Funds Funds Funds
Total
Tax Increment Gross
(Include All Apportionments)
Special Supplemental Subvention
Property Assessments
Sales and Use Tax
Transient Occupancy Tax
Interest Income
Rental I ncome
Lease Income
Sale of Real Estate
Gain on Land Held for Resale
Federal Grants
Grants from Other Agencies
Bond Administrative Fees
Other Revenues
Total Revenues
Statement of Income and Expenditures - Revenues Page 1
1218420082,160,086
$0.
114,756
P
60
Fiscal Year
Project Area Name
lama
roulver City_Prgiect Area
Capital Project Debt Service Low/Moderate Special
Funds Funds Income Housing RevenuelOther Total
Administration Costs
Professional Services
Planning, Survey, and Design
Real Estate Purchases
Acquisition Expense
Operation of Acquired Property
Relocation Costs
Relocation Payments
Site Clearance Costs
Disposal Costs
Loss on Disposition of Land Held for
Resale
7,074,4371
34,393
334,7871
Project Improvement / Construction Costs 3,998,524
Statement of Income and Expenditure 's - Expenditures
Page 1 -
1218/2008ulver City RedevIopmGntAgen -•-•••••••••••-••••• •• •
••• -
• Oiii014;41Firii-4:166.1firit
Tax Allocation Bonds and Notes
Participation, Financing Authority
Bonds
L_ 5,845,000
Revenue Bonds, Certificates of
Statement of income and Expenditures-- Expenditures
Fiscal Year
[ i
óii
TTT Project Area Name ICulyer City Project Area
Capital Project Debt Service
Funds Funds
Decline in Value of Land Held for Resale
Low/Moderate Special
Income Housing Revenue/Other Total
Rehabilitation Costs
Rehabilitation Grants
Interest Expense
Fixed Asset Acquisitions
Subsidies to Low and Moderate Income
Housing
Debt Issuance Costs
Other ExpendAures Including Pass-
Through Payment(s)
Debt Principal Payments:
297,913
$297,913
144,425 1 548,935 F
$6-93,360
647,341 8,011,618 L
$8,658,959|10 10| L.
56,683
$56,683
PP
3,456,3231
$3,456,323
City/County Advances and Loans
All Other Long-Term Debt
Total Expenditures
Excess (Deficiency) Revenues over
(under) Expenditures
77,387 1 $77,387
$16,065,530
$19,768,785
$13,856,618
($13,192,054)
$2,680,460
($2,221,465)
$0 $32,802,508
$4,355,266
Statement of Income and Expenditures - Expenditures 12/8/2008 Page 2Culver c ctevelojment,Agey
• I .4r L . _ .
Statenientof incemeand Expenditures— Other Financing sources
Total Other Financing Sources (Uses) ($9,204,376) $12,679,323 $5,625,053
Special
Revenue/Other Total
Fiscal Year :)os
Project Area Name [Culver City,Project
Capital Project
Funds
Area
Debt Service Low/Moderate
Funds Income Housing
Proceeds of Long-Term Debt 9,000,000
Proceeds of Refunding Bonds
Payment to Refunded Bond Escrow Agent
Advances from City/County
J
Sale of Fixed Assets
Miscellaneous Financing Sources (Uses)
I- 1
Operating Transfers In 652,4901 12,679,323 r 6,277,5431
Tax Increment Transfers In
[
Operating Transfers Out 18,856,866 652,4901
- -
Tax increment Transfers Out
(To the Low and Moderate income Housing Fund)
$9,000,000
$0
$0
$0
$0
$0
.
$1 9,509,356
$0 . $9,000,000
A $0
19,509,356
Statement of Income and Expenditures Other Financing Sources Page 1 12/8/2008rity ' )irirgaf4ot.A.0
$0 $103„650,121 $23,408,141 $14,939,147 $65,302,833
$9.
Statement offncomeand Expenditures - Qther Financing Sources
Fiscal Year [2008
Project Area Name [CuWer city Protect Area Capital Project Debt Service Low/Moderate Special
Funds Funds income Housing Revenue/Other
Total
Excess (Deficiency) of Revenues and $10,564,409 ($612,731) $3,403,588
$0 $13,355,266
Other Financing Sources over
Expenditures and Other Financing Uses
Equity, Beginning of Period
Prior Period Adjustments
4t.) Residual Equity Transfers
Equity, End of Period I $75,867,242
$14,326,416 $26,811,729
$0 $117,005,387 (
Statement of Income and Expenditures - Other Financing Sources
Page 2 12/8/2008Ver edeVeio
14:
A nettit ,a !I4ati.Ons
1 LI T
F-32,620,085 533,986 18,996,3761—
r-
13,688,360|109| _L
386,614 104,0701
2,748,693 I
$0
Balance Sheet - Assets and Other Debits
Fiscal Year 2008
Low/Moderate Special
Capital Projects Debt Service income Housing Revenue/Other General Long- General Fixed
Funds Funds Funds Funds Term Debt Assets Total
Assets and Other Debits
Cash and Imprest Cash
Cash with Fiscal Agent
Tax Increments Receivable
Accounts Receivable
Accrued Interest Receivable
Loans Receivable
Contracts Receivable
Lease Payments Receivable
Unearned Finance Charge
Due from Capital Projects Fund
Due from Debt Service Fund
Due from Low/Moderate
Income Housing Fund
Due from Special
Revenue/Other Funds
Balance Sheet Assets and Other Debits
Page 1 12/8/2008001;410**-
no6ri Jos Arlo '61;4 ons:
Balance:Sheet - Assets and Other Debits
Special
Revenue/Other
Funds
Low/Moderate
Income Housing
Funds
Capital Projects Debt Service
Funds Funds
General Long- General Fixed
Term Debt Assets Total
Fiscal Year 2008
Investments
Other Assets
Investments: Land Held for
Resale
Allowance for Decline In
Value of Land Held for Resale
Fixed Assets: Land,
Structures, and Improvements
2,214,810 1,,
45,527,776 - 4,250,649
$21,665
$2,214,810
$49,778,425 7
$19,546,247
21,6651_
11111
19,545,2471
Amount to be Provided for
Payment of Long-Term Debt
159,492,348
Total Assets and Other
Debits
(Must Equal Total Liabilities,
Other Credits, and Equities)
$82,674,829 $14,326,416 $27,394,105 $173,818,764 $19,556,763 $317,770,877
Equipment
Amount Available In Debt
Service Fund
$159 492 348
Balance Sheet - Assets and Other Debits Page 2 12/8/2008$3,492,919
$0
$0
$2,748,693
;:;
f 134,090,000|10 9| 28,225,0007'
$134,090,000
$28,225,000
,
uker ,rnentAg. .
"." 4 ?I
ffleht Transactions fe
Balance Sheet - Liabilities and Other Credits
Fiscal Year 2008
Low/Moderate Special
Capital Projects Debt Service Income Housing Revenue/Other General Long- General Fixed
Funds Funds Funds Funds Term Debt Assets Total
Liabilities and Other Credits
Accounts Payable
Interest Payable
Tax Anticipation Notes Payable
Loans Payable
Other Liabilities
Due to Capital Projects Fund
Due to Debt Service Fund
Due to Low/Moderate
Income Housing Fund
Due to Special
Revenue/Other Funds
"1k Tax Allocation Bonds Payable
Lease Revenue, Certificates
of Participation Payable,
Financing Authority Bonds
All Other Long-Term Debt
Total Liabilities and Other
Credits
Balance Sheet - Liabilities and Other Credits
Page 1
12/8/2008Low/Moderate Special
Income Housing Revenue/Other General Long-
Funds Funds Term Debt
General Fixed
Assets
Total
Fiscal Year 2008
Capital Projects
Funds
Debt Service
Funds
- Culver Cit Redevelopment Agency "
evel4 Report
Credits
19,-5 - 867763 $19,556,763
14,326,416 1 - 26,811,729 $91,372,036 . I
$25,633,351 25,633,351
$0
$136,562,150 $75,867,242 $ 4,326,416 $19,856,763 $26,811,729
$0
$82,674,829 $14,326,418 $27,394,105 $0 $173,818,764 $19,556,763 $317,770,877
Equities
Investment In General Fixed
Assets
Fund Balance Reserved
L
Fund Balance
Unreserved-Designated
Fund Balance
Unreserved-Undesignated
Total Equities
Total Liabilities,
Other Credits, and
Equifies
balance Sheet - Liabihties and Other Credits
Fage,2
12/8/2008$19,509,356
$0
4,k,A Oc; • "
6 70 10Prn: " ;50#1:4,;.,
Statement of Inoomeand Expenditures Summary, Combined Transfers In/Out
Fiscal Year 2008.
Operating Transfers In
Tax Increment Transfers In
Operating Transfers Out
Tax Increment Transfers Out
• Statement of Income and Expenditures - Summary,
Page 121812008
Combined Transfers In/Out •ATTACHMENT 3
CULVER CITY REDEVELOPMENT AGENCY
Financial Statements
Year ended June 30, 2008
(With Independent Auditors' Report Thereon)CULVER CITY REDEVELOPMENT AGENCY
Financial Statements
Year ended June 30, 2008
TABLE OF CONTENTS
Paae
Independent Auditors' Report 1
Basic Financial Statements:
Government-wide Financial Statements:
Statement of Net Assets
Statement of Activities 6
Fund Financial Statements:
Governmental Funds:
Balance Sheet 7
Reconciliation of the Balance Sheets of Governmental Funds to the
Statement of Net Assets 8
Statement of Revenues, Expenditures and Changes in Fund Balances 9
Reconciliation of the Statement of Revenues, Expenditures and Changes
in Fund Balances of Governmental Funds to the Statement of Activities 10
Notes to the Basic Financial Statements 11
Required Supplementary Information:
Notes to Required Supplementary Information 33
Schedule of Revenues, Expenditures, and Changes in Fund Balance — Budget
and Actual:
Low/Moderate Housing Fund 34
Supplementary Information:
Computation of Low and Moderate Income Housing Funds Excess/Surplus 35
Report on Compliance and Other Matters and on Internal Control Over Financial
Reporting Based on an Audit of Financial Statements Performed in Accordance
with Government Auditing Standards 36Mayer Hoffman McCann P.C.
An independent CPA Firm
2301 Dupont Drive, Suite 200
Irvine, California 92612
949-474-2020 ph
949-263-5520 fx
www.mhm-pc.com
Honorable Chair and Members of the Governing Board
Culver City Redevelopment Agency
Culver City, California
Independent Auditor's Report
We have audited the accompanying financial statements of the governmental activities and each
major fund of the Culver City Redevelopment Agency, a component unit of the City of Culver
City, California, as of and for the year ended June 30, 2008, which collectively comprise the
Agency's basic financial statements, as listed in the table of contents. These financial statements
are the responsibility of the management of the Culver City Redevelopment Agency. Our
responsibility is to express opinions on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United
States of America and the standards applicable to financial audits contained in
Government
Auditing Standards,
issued by the Comptroller General of the United States. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by management,
as well as evaluating the overall financial statement presentation. We believe that our audit
provides a reasonable basis for our opinions.
In our opinion, the financial statements referred to above present fairly, in all material respects,
the respective financial position of the governmental activities and each major fund of the Culver
City Redevelopment Agency, a component unit of the City of Culver City, California, as of June
30, 2008, and the respective changes in financial position of the Culver City Redevelopment
Agency for the year then ended in conformity with accounting principles generally accepted in
the United States of America.
The Culver City Redevelopment Agency has not presented Management's Discussion and
Analysis
that the Governmental Accounting Standards Board has determined is necessary to
supplement, although not required to be part of, the basic financial statements.
The information identified in the accompanying table of contents as required supplementaty
information is not a required part of the basic financial statements but is supplementary
information required by accounting principles generally accepted in the United States of
America. We have applied certain limited procedures, which consisted principally of inquiries of
management regarding the methods of measurement and presentation of the required
supplementary information. However, we did not audit the information and express no opinion
on itHonorable Chair and Members of the Governing Board
Culver City Redevelopment Agency
Page Two
Our audit was conducted for the purpose of forming an opinion on the financial statements that
collectively comprise the Culver City Redevelopment Agency's basic financial statements. The
supplementary infolination listed in the table of contents is presented for purposes of additional
analysis and is not a required part of the basic financial statements. The supplementary
information has not been subjected to the auditing procedures applied in the audit of the basic
financial statements and, accordingly, we express no opinion on it.
In accordance with Government Auditing Standards, we have also issued a report dated
December 15, 2008 on our consideration of the Agency's internal control over financial reporting
and our tests of its compliance with certain provisions of laws, regulations, contracts, grant
agreements, and other matters. The purpose of that report is to describe the scope of our testing
of internal control over financial reporting and compliance and the results of that testing, and not
to provide an opinion on the internal control over financial reporting or on compliance. That
report is an integral part of an audit performed in accordance with Government Auditing
Standards and should be considered in assessing the results of our audit.
ffir/cfs-ii-r1
Irvine, California
December 15, 2008BASIC FINANCIAL STATEMENTS|1010|4qC(This page intentionally left blank)
4CULVER CITY REDEVELOPMENT AGENCY
Statement of Net Assets
June 30, 2008
Assets:
Governmental
Activities
Cash and investments (note 2) $ 52,150,449
Cash with fiscal agent (note 2) 13,688,360
Interest receivable 607,094
Due from City of Culver City 136,744
Due from other governments 2,078,066
Loans receivable (note 5) 3,185,854
Prepaid expenses
21,665
Land held for resale 49,778,425
Unamortized issuance costs 1,391,544
Capital assets (note 6):
Construction in progress 3,394,248
Other capital assets, net
14,931,107
Total assets 141,363,556
Liabilities:
Accounts payable and accrued liabilities 1,148,351
Accrued interest payable 1,355,408
Due to the City of Culver City 1,922,454
Due to other governments 357,489
Deposits payable 1,212,976
Noncurrent liabilities (note 3):
Due within one year 6,157,387
Due in more than one year 167,741,315
Total liabilities 179,895,380
Net assets:
Restricted for:
Affordable housing 18,451,304
Unrestricted (56,983,128)
Total net assets $ (38,531,824)
See accompanying notes to the basic financial statements.|1010|017CULVER CITY REDEVELOPMENT AGENCY
Statement of Activities
Year ended June 30, 2008
Program Revenues
Operating
• Charges for Contributions
Expenses Services and Grants
Capital
Contributions
and Grants Total
Governmental activities:
Community development $ 9,201,388 1,135,601 1,304,639 (6,761,148)
Public works 2,931,823
(2,931,823)
Interest and fiscal charges 8,868,471 (8,868,471)
Total governmental activities $ 21,001,682 1,135,601 1,304,639 (18,561,442)
General revenues:
Tax increment 28,076,868
Investment income
3,329,921
Total general revenues
31,406,789
Change in net assets
12,845,347
Net assets (deficit) at beginning of year
(51,377,171)
Net assets (deficit) at end of year $ (38,531,824)
See accompanying notes to the basic financial statements.|1010|619/CULVER CITY REDEVELOPMENT AGENCY
Governmental Funds - Balance Sheet
June 30, 2008
Assets
Special
Revenue Fund
Debt
Service Fund
Capital Project
Fund
Total
Low/Mod
Housing
Debt
Service
Capital
Projects
Assets:
Cash and investments $ 18,996,378 533,986 32,620,085 52,150,449
Cash with fiscal agent 13,688,360 13,688,360
Interest receivable 116,410 104,070 386,614 607,094
Loans receivable 1,260,310 1,925,544 3,185,854
Due from City of Culver City 136,744 136,744
Due from other governments 2,078,066 2,078,066
Prepaid expenses 21,665 21,665
Advances to other funds (note 4) 2,748,693 2,748,693
Land held for resale 4,250,649 45,527,776 49,778,425
Total assets $ 27,394,105 14,326,416 82,674,829 124,395,350
Liabilities and Fund Balances
Liabilities:
Accounts payable
and accrued liabilities 68,318 1,080,033 1,148,351
Due to the City of Culver City 514,058 1,408,396 1,922,454
Due to other governments 357,489 357,489
Advances from other funds (note 4) 2,748,693 2,748,693
Deposits payable 1,212,976 1,212,976
Total liabilities 582,376 6,807,587 7,389,963
Fund balances:
Reserved for:
Encumbrances 79,108 2,780,571 2,859,679
Loans receivable 1,260,310 1,925,544 3,185,354
Prepaid expenses 21,665 21,665
Advances to other funds 2,748,693 2,748,693
Land held for resale 4,250,649 45,527,776 49,778,425
Debt service 14,326,416 14,326,416
Affordable housing 18,451,304 18,451,304
Unreserved, reported in:
Capital Projects Funds 25,633,351 25,633,351
Total fund balances 26,811,729 14,326,416 75,867,242 117,005,387
Total liabilities and
fund balances 8 27,394,105 14,326,416 82,674,829 124,395,350
See accompanying notes to the basic financial statements.
7CULVER CITY REDEVELOPMENT AGENCY
Governmental Funds
Reconciliation of the Balance Sheet of Governmental Funds
to the Statement of Net Assets
June 30, 2008
Fund balances of governmental funds $ 117,005,387
Amounts reported for governmental activities in the statement of
net assets are different because:
Capital assets, net of depreciation, have not been included as financial
resources in governmental fund activity
18,325,355
Long term debt that has not been included in the governmental fund activity (173,898,702)
Unamortized original issuance premuim on long term debt that has not been
included in the governmental funds. 1,391,544
Accrued interest payable for the current portion of interest due on
long term liabilities has not been reported in the governmental funds. (1,355,408)
Net assets of governmental activities $ (38,531,824)
See accompanying notes to the basic financial statements.|1010|I ACULVER CITY REDEVELOPMENT AGENCY
Governmental Funds
Statement of Revenues, Expenditures and Changes in Fund Balances
Year ended June 30, 2008
Special
Revenue Fund
Debt
Service Fund
Capital Project
Fund
Total
Low/Mod
Housing
Debt
Service
Capital
Projects
Revenues:
Tax increment 31,387,713 31,387,713
Charges for services 70,500 1,065,101 1,135,601
Investment income 588,495 664,564 2,076,862 3,329,921
Miscellaneous revenue 1,304,639 1,304,639
Total revenues 658,995 664,564 35,834,315 37,157,874
Expenditures:
Current:
Community development 2,765,704 6,111,832 8,877.536
Public works
1,885,208 1,885,208
Capital outlay 114,756 4,032,917 4,147,673
Debt service:
Principal 5,845,000 77,387 5,922,387
Interest and .fiscal charges 8,011,618 647,341 8,658,959
Pass-through payments
3,310,845 3,310,845
Total expenditures 2,880,460 13,856,618 16,065,530 32,802,608
Excess (deficiency) of
revenues over (under)
expenditures (2,221,465) (13.192,054) 19,768,785 4,355,266
Other financing sources (uses):
Proceeds of advances 9,000,000 9,000,000
Transfers in (note 7) 6,277,543 12,579,323 652,490 19,509,356
Transfers out (note 7) (652,490) (18,856,866) (19,509.356)
Total other financing
sources (uses) 5,625,053 12,579,323 (9,204,376) 9,000,000
Net change in fund balances 3,403,588 (612,731) I 0,564,409 13,355,266
Fund balances at beginning
of year 23,408,141 14,939,147 65,302,833 103,650,121
Fund balances at end of year $ 26,811,729 14,326,416 75,867,242 117,005,387
See accompanying notes to the basic financial statements.|10 10|MICULVER CITY REDEVELOPMENT AGENCY
Governmental Funds
Reconciliation of the Statement of Revenues, Expenditures
and Changes in Fund Balances of Governmental Funds
to the Statement of Activities
Year ended June 30, 2008
Net changes in fund balances - total governmental funds $ 13,355,266
Amounts reported for governmental activities in the statement of
activities are different because:
Governmental funds report capital outlay as expenditures. However, in the statement
of activities, the cost of those assets are allocated over their estimated useful lives as
depreciation expense. This is the amount by which capital outlay exceeded
depreciation in the current period.
Capital outlay 3,100,978
Depreciation expense (323,852)
The statement of net assets includes accrued interest on long term debt. This amount
is the difference between amount of interest paid and amount of interest incurred.
Repayment of bond principal is an expenditure in the governmental funds,
but the repayment reduces long-term liabilities in the statement of net assets.
Bond issuance costs are recorded as an expendiure in the governmental funds, but
appear as deferred charges in the statement of net assets:
Amortization of bond issuance costs
Unamortized premuims or discounts on bonds are recorded as revenues or expenditures
in the governmental funds, however, these amounts are allocated to future periods over
the life of the bonds for government-wide reporting:
Amortization of premium
Proceeds of long-term liabilities increases governmental fund net assets, but is shown
as a liability in the statement of net assets.
Defeasance of debt is recorded as an expenditure in the governmental funds, however,
these amounts are allocated to future periods over the life of the bonds for
government wide reporting:
Amortization of defeasance loss
13,119
5,922,387
(87,602)
125,571
(9,000,000)
(260,520)
Change in net assets of governmental activities $ 12,845,347
See accompanying notes to the basic financial statements.
10
MCULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
Year ended June 30, 2008
(1) Summary of Significant Accounting Policies
The accounting policies of the Culver City Redevelopment Agency ("Agency") conform
to generally accepted accounting principles.
(a) Reporting Entity
The Culver City Redevelopment Agency (the "Agency") is a separate governmental
entity established on February 8 1971, pursuant to the State of California Health and
Safety Code, Section 33000, entitles Community Redevelopment Law. Its purpose
is to carry out plans for the improvement, rehabilitation and redevelopment of
blighted areas within the City limits of the City of Culver City (City). The State
Health and Safety Code provides that upon the approval of a redevelopment plan,
property taxes levied on future incremental increases in the assessed value within
the designated project area will be paid to the redevelopment agency until all
indebtedness incurred to finance the project has been paid.
The City Council has declared itself to be the governing body of the Agency
pursuant to the Community Redevelopment Law and functions as the Agency's
Board of Directors. The Agency has part time employees, the Executive staff and
the Directors; the remainder of Agency duties and functions are performed by
employees of the City. The City is reimbursed for the cost of these and other
services.
Because the Agency meets the criteria for a component unit established by the
Governmental Accounting Standards Board, the Agency's financial statements have
also been included in the Comprehensive Annual Financial Report of the City of
Culver City for the fiscal year ended June 30, 2008.
The Agency administers the Culver City Redevelopment Project Area (Project
Area). The Project Area was created November 23, 1998, by Ordinance No. 98-
014, which merged the Agency's three former project areas. On November 23
1998„ by Ordinance No. 98-015, the Agency also added 270 acres to the Project
Area. The Agency administers the Project Area in four components, consisting of
the three former project areas plus the area added by Ordinance No. 98-015.
Also included in the Agency's general purpose financial statements are the activities
of the Culver City Redevelopment Financing Authority (Authority), a joint powers
authority formed between the Agency and the City for the purposes of financing
various redevelopment activities.
Culver City Redevelopment Financing Authority
The Authority meets the definition of a "component unit" and is present on a
"blended" basis as if it was part of the Agency. Although the Authority is legally a
31CULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies. (Continued)
(a) Reporting Entity, (Continued)
separate entity, the governing board of the Authority is comprised of the same
membership as the Agency's governing board. In addition, there is also a financial
benefit/burden relationship between the Agency and the Authority.
The Agency reimburses the Authority for all costs incurred by the Authority on its
behalf. The loans from the Authority to the Agency are at the same interest rates
and payment terms as the underlying bonds of the Authority, and the Agency
maintains all cash reserves required under the bond indentures. Therefore, the
activity of the Authority is included in the Agency's financial statements and the
transactions between the Authority and the Agency are eliminated for financial
statement purposes.
The Authority is audited as part of the Agency. Further information is available at
the Culver City Hall, Office of the City Treasurer.
Hereinafter, "Agency" refers to the combined entity of the Agency and the
Authority, unless otherwise specified.
(b) Basis of Accounting and Measurement Focus
The basic financial statements of the Agency are composed of the following:
• Government-wide financial statements
• Fund financial statements
• Notes to the basic financial statements
Government-wide Financial Statements
Government-wide financial statements display information about the reporting
government as a whole, except for its fiduciary activities. These statements include
separate columns for the governmental and business-type activities of the primary
government (including its blended component units), as well as it's discreetly
presented component units. The Culver City Redevelopment Agency has no
business-type activities or discretely presented component units. Eliminations have
been made in the Statement of Activities so that certain allocated expenses are
recorded only once (by the function to which they were allocated). However,
general government expenses have not been allocated as indirect expenses to the
various functions of the Agency.
12
M41CULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
Summary of Significant Accounting Policies. (Continued)
(b) Basis of Accounting and Measurement Focus (Continued)
Government-wide financial statements are presented using the economic resources
measurement focus and the accrual basis of accounting. Under the economic
resources measurement focus, all (both current and long-term) economic resources
and obligations of the reporting government are reported in the government-wide
financial statements. Basis of accounting refers to when revenues and expenditures
are recognized in the accounts and reported in the financial statements. Under the
accrual basis of accounting, revenues, expenses, gains, losses, assets, and liabilities
resulting from exchange and exchange-like transactions are recognized when the
exchange takes place. Revenues, expenses, gains, losses, assets, and liabilities
resulting from nonexchange transaction are recognized in accordance with the
requirements of GASB Statement No. 33.
Program revenues include charges for services and payments made by parties
outside of the reporting government's citizenry if that money is restricted to a
particular program. Program revenues are netted with program expenses in the
statement of activities to present the net cost of each program.
Amounts paid to acquire capital assets are capitalized as assets in the government
wide financial statements, rather than reported as an expenditure. Proceeds of long-
term debt are recorded as a liability in the government-wide financial statements,
rather than as another financing source. Amounts paid to reduce long-term
indebtedness of the reporting government are reported as a reduction of the related
liability, rather than as an expenditure,
Fund Financial Statements
The underlying accounting system of the Agency is organized and operated on the
basis of separate funds, each of which is considered to be a separate accounting
entity. The operations of each fund are accounted for with a separate set of self-
balancing accounts that comprise its assets, liabilities, fund equity, revenues and
expenditures or expenses, as appropriate. Governmental resources are allocated to
and accounted for in individual funds based upon the purposes for which they are to
be spent and the means by which spending activities are controlled.
Fund financial statements for the primary government's governmental funds are
presented after the government-wide financial statements.
13
/ A caCULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(I) Summary of Significant Accounting Policies. (Continued)
(b) Basis of Accounting and Measurement Focus (Continued)
Governmental Funds
In the fund financial statements, governmental funds and agency funds are presented
using the modified-accrual basis of accounting. Their revenues are recognized when
they become measurable and available as net current assets. Measurable means that
the amounts can be estimated, or otherwise determined. Available means that the
amounts were collected during the reporting period or soon enough thereafter to be
available to finance the expenditures accrued for the reporting period. The Agency
uses a sixty day availability period.
Revenue recognition is subject to the measurable and availability criteria for the
governmental funds in the fund financial statements_ Exchange transactions are
recognized as revenues in the period in which they are earned (i.e., the related goods
or services are provided). Locally imposed derived tax revenues are recognized as
revenues in the period in which the underlying exchange transaction upon which
they are based takes place. Imposed non-exchange transactions are recognized as
revenues in the period for which they were imposed. If the period of use is not
specified, they are recognized as revenues when an enforceable legal claim to the
revenues arises or when they are received, whichever occurs first. Government-
mandated and voluntary non-exchange transactions are recognized as revenues
when all applicable eligibility requirements have been met.
In the fund financial statements, governmental funds are presented using the current
financial resources measurement focus. This means that only current assets and
current liabilities are generally included on their balance sheets. The reported fund
balance (net current assets) is considered to be a measure of "available spendable
resources." Governmental fund operating statements present increases (revenues
and other financing sources) and decreases (expenditures and other financing uses)
in net current assets. Accordingly, they are said to present a summary of sources and
uses of "available spendable resources" during a period.
Non-current portions of long-term receivables due to governmental funds are
reported on their balance sheets in spite of their spending measurement focus.
Special reporting treatments are used to indicate, however, that they should not be
considered "available spendable resources," since they do not represent net current
assets. Recognition of governmental fund type revenues represented by noncurrent
that resources were expended, rather than as fund assets. The proceeds of long-term
14CULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies. (Continued)
(b) Basis of Accounting and Measurement Focus (Continued)
receivables are deferred until they become current receivables. Noncurrent portions
of other long-term receivables are offset by fund balance reserve accounts.
Because of their spending measurement focus, expenditure recognition for
governmental fund types excludes amounts represented by noncurrent liabilities.
Since they do not affect net current assets, such long-term amounts are not
recognized as governmental fund type expenditures or fund liabilities.
Amounts expended to acquire capital assets are recorded as expenditures in the year
debt are recorded as an other financing sources rather than as a fund liability.
Amounts paid to reduce long-term indebtedness are reported as fund expenditures.
When both restricted and unrestricted resources are combined in a fund, expenses
are considered to be paid first from restricted resources, and then from unrestricted
resources.
(c) Activities in Major Funds
The following funds are presented as major funds in the accompanying basic
financial statements:
Special Revenue Fund — Low/Moderate-Income Housing — This fund is used to
account for the 20% set aside for low and moderate income housing.
Debt Service Fund — This fund is used to account for the payment of principal,
interest and associated expenses related to the Agency's bonded indebtedness.
Capital Projects Fund — This fund is used to account for all of the A
gency's capital
projects and their administration.
(d) Tax Increment Revenue
The Agency has no power to levy and collect taxes, and any legislative property tax
deemphasis might necessarily reduce the amount of tax revenues that would
otherwise be available to pay the principal of, and interest on, advances from the
City of Culver City. Broadened property tax exemptions could have a similar
effect. Conversely, any increase in the tax rate or assessed valuation, or any
reduction or elimination of present exemptions, would necessarily increase the
15
/r7CULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
fl) Summary of Significant AccountinR Policies, (Continued)
(d) Tax Increment Revenue. (Continued)
amount of tax revenues that would be available to pay principal and interest on tax
allocation bonds and advances from the City and Public Financing Authority.
(e) Cash and Investments
Investments are reported in the accompanying balance sheet at fair value. Changes
in fair value that occur during a fiscal year are recognized as investment income
reported for that fiscal year. Investment income includes interest earnings, changes
in fair value, and any gains or losses realized upon the liquidation or sale of
investments.
(f) Use of Estimates
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of contingent
assets and liabilities at the date of the financial statements, and the reported amounts
of revenues and expenses, during the reporting period. Actual results could differ
from those estimates.
(2) Cash and Investments
Cash and investments as of June 30, 2008 are classified in the accompanying financial
statements as follows:
Statement of net assets:
Cash and investments
Cash and investments held by bond trustee
$52,150,449
13,688.360
Total cash and investments . $65,838,809
Cash and investments as of June 30, 2008 consist of the following:
Deposits (overdraft) with financial institutions $ (850,311)
Investments 66,689,120
Total cash and investments $65.838.809
16
leCULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(2) Cash and Investments. (Continued)
Investments Authorized by the California Government Code and the City's Investment
Policy
The table on the next page identifies the investment types that are authorized for the
Agency by the California Government Code and the City's investment policy. The table
also identifies certain provisions of the California Government Code (or the City's
investment policy, if more restrictive) that address interest rate risk and concentration of
credit risk. This table does not address investments of debt proceeds held by bond trustee
that are governed by the provisions of debt agreements of the Agency, rather than the
general provisions of the California Government Code or the City's investment policy.
Authorized *Maximum *Maximum
Investment Types By Investment *Maximum Percentage Investment
Authorized by State Law Policy Maturity Of Portfolio in One Issuer
Local Agency Bonds
Yes
N/A None None
U.S. Treasury Obligations Yes 5 years None None
U.S. Agency Securities
Yes 5 years None None
Banker's Acceptances
Yes 180 days 40% 30%
Commercial Paper
Yes 180 days 25% 10%
Negotiable Certificates of Deposit
Yes 5 years 30% None
Repurchase Agreements
Yes 1 year 50% None
Reverse Repurchase Agreements
No 92 days 20% of base value None
Medium-Term Notes
Yes 5 years 30% . None
Mutual Funds
Yes N/A 20% 10%
Money Market Mutual Funds
No N/A 20% 10%
Mortgage Pass-Through Securities
No 5 years None None
County Pooled Investment Funds
No N/A None None
Local Agency Investment Fund Yes
(LAW) N/A None None
WA Pools (other investment pools)
No N/A None None
*Based on state law requirements or investment policy requirements, whichever is more restrictive.
17
MCULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(2) Cash and Investments, (Continued)
Investments Authorized by Debt Agreements
Investment of debt proceeds held by bond trustee are governed by provisions of the debt
agreements, rather than the general provisions of the California Government Code or the
Agency's investment policy. The table below identifies the investment types that are
authorized for investments held by bond trustee. The table also identifies certain
provisions of these debt agreements that address interest rate risk and concentration of
credit risk.
Authorized Maximum
Investment Type Maturity
U.S. Treasury Obligations None
U.S. Agency Securities None
Banker's Acceptances 360 days
Commercial Paper 270 days
Money Market Mutual Funds None
Investment Contracts None
Local Agency Bonds None
Medium Term Notes None
Negotiable Certificate of Deposits None
Local Agency Investment Fund (LAIF) None
Disclosures Relating to Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the
fair value of an investment. Generally, the longer the maturity of an investment, the
greater the sensitivity of its fair value to changes in market interest rates. One of the ways
that the Agency manages its exposure to interest rate risk is by purchasing a combination
of shorter term and longer term investments and by timing cash flows from maturities so
that a portion of the portfolio is maturing or coming close to maturity evenly over time as
necessary to provide the cash flow and liquidity needed for operations.
18CULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(2) Cash and Investments, (Continued)
Information about the sensitivity of the fair values of the Agency's investments held by
bond trustee to market interest rate fluctuations is provided by the following table that
shows the distribution of the Agency's investments by maturity.
Remaining Maturity (in Months)
12 Months 13 to 24 25-60 More Than
Investment Type Total Or Less Months Months 60 Months
Federal agency securities $19,006,970 19,006,970
State investment pool 27,910,089 27,910,089
Money market funds 1,156,536 1,156,536
Medium term notes 3,971,080 3,971,080
Held by fiscal agent:
Money market funds 804,566 804,566
Investment agreements 13,839,879 2,110,328 11,729.551
Total $66,689,120 29_871.191 25.088,378 11 729.551
Disclosures Relating to Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its
obligation to the holder of the investment. This is measured by the assignment of a rating
by a nationally recognized statistical rating organization. Presented below is the minimum
rating required by (where applicable) the California Government Code, the Agency's
investment policy, or debt agreements, and the actual rating as of year end for each
investment type_
Minimum
Legal
Rating
Not
Investment Type Total RAtiLg i AAA A Rated
Federal agency securities $19,006,970 N/A 19,006,970
State investment pool 27,910,089 N/A 27,910,089
Money market funds 1,156,536 A 1,156,536
Medium term notes 3,971,080 A 3,971.080
Held by fiscal agent:
Money market funds 804,566 A 804,566
Investment agreements 13,839.879 N/A 13,839.879
Total $66_619,120 20 968.072 3,971,080 41,749,968
19
/1/CULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(2) Cash and Investments, (Continued)
Concentration of Credit Risk
There are no investments in any one issuer (other than U.S. Treasury securities, mutual
funds, and investment pools) that represent 5% or more of total investments for the entire
entity (or for each separate major fund or for nonmajor funds in the aggregate).
Custodial Credit Risk
For the investments held by bond trustee, the bond trustee selects the investment under
the terms of the applicable trust agreement, acquires the investment, and holds the
investment on behalf of the reporting government.
Investment in State hivestuient Pool
The Agency is a voluntary participant in the Local Agency Investment Fund (LAIF) that
is regulated by the California Government Code under the oversight of the Treasurer of
the State of California. The fair value of the Agency's investment in this pool is reported
in the accompanying financial statements at amounts based upon the Entity's pro-rata
share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the
amortized cost of that portfolio). The balance available for withdrawal is based on the
accounting records maintained by LAIF, which are recorded on an amortized cost basis.
LAIF is not rated.
20CULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(3) Long-Term Liabilities
Changes in long-term liabilities for the year ended June 30, 2008 is as follows:
1993 Tax Allocation Refunding
Balance at
July 1, 2007 Additions Deletions
Balance at
June 30, 2008
Due
within
One Year
Due in
more than
One Year
Revenue Bonds $28,225,000 28,225,000 23,225,000
1999 Tax Allocation Refunding
Revenue Bonds Series A 25,150,000 (880,000) 24,270,000 920,000 23,350,000
2002 Tax Allocation Bonds 23,515,000 (910,000) 22,605,000 945,000 21,660,000
2004 Tax Allocation Refunding
Revenue Bonds Series A 74,175,000 (3,885,000) 70,290,000 4,040,000 66,250,000
2005 Tax Allocation Refunding
Bonds 17,095,000 (170,000) 16,925,000 175,000 16,750,000
Advance fl-cm City 9,000,000 9,000,000 9,000,000
Developer Loan Payable 1,031,151 (77,387) 953,764 77,387 876,377
Real Estate Loan Payable 1,550,000 1,550,000 1,550.000
Total long-term
liabilities 170,741,151 9,000,000 (1922.387) 173,813,764 6.157,387 167.661,377
Unamortized Original
Issue Premium 2,064,858 (125,571) 1,939,287 1,939,287
Unamortized Bond
Defeasance Loss (2,119.869) 260.520 (1,859,349) (1,859,349)
Net Long-term debt $170,6$6,140 9 260 520 (6 047 958) 173.898,702 6.157,387 167.741,315
1993 Tax Allocation Refunding Revenue Bonds
In November 1993, the Culver City Redevelopment Financing Authority (Authority)
issued $128,070,000 of Revenue Bonds. The net proceeds of these bonds were used to
provide loans to the Agency. The proceeds of such loans were used to advance refund a
portion of the Agency's outstanding 1989 Series A and Series B Revenue Bonds.
t2CULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(3) Long-Term Liabilities, (Continued)
Loans to the Agency from the Authority are at rates and payment terms identical to the
underlying Revenue Bonds of the Authority; the required Reserve and Debt Service
Funds for the Revenue bonds are maintained by the Agency; and the Agency reimburses
the Authority for all of its other net costs, expenses or losses; therefore, the transactions
of the Authority are included in the financial statements of the Agency and the
transactions between the Agency and the Authority are eliminated for financial statement
purposes.
In April 2004, the Agency issued $83,470,000 in tax Allocation Refunding Bonds 2004
Series A to advance refund $81,790,000 of outstanding 1993 Tax Allocation Refunding
Revenue Bonds.
The remaining outstanding term bonds are maturing in 2014 and are secured by pledged
tax revenues. They are subject to mandatory redemption in part by lot on November 1 of
each year commencing November 1, 2009, through maturity from sinking fund payments,
in the amounts of $4,1.00,000 to $5,355,000 with interest rate of 5.50%.
1999 Tax Allocation Refunding Bonds Series A and B
In October 1999, the Agency issued a total of $51,475,000 in bonds consisting of
$31,940,000 in 1999 Series A Bonds (FSA Insured) and $19,535,000 in 1999 Series B
Bonds (uninsured). The Agency sold the bonds to the Financing Authority which then
resold the bonds to affect a negotiated bonds sale. The 1999 bonds were issued to
refinance most of the remaining outstanding 1989 Bonds and generate new bond proceeds
to finance redevelopment project activities within the emerged Culver City
Redevelopment Project. The bonds are secured by and payable from tax revenues from
the Agency's Merged Culver city Redevelopment Project.
1999 Series A Tax Allocation refunding Bonds (FSA Insured) — The outstanding
$24,270,000 of 1999 Series A Revenue bonds consist of $7,095,000 of serial bonds that
mature on November 1 in the years 2007 through 2013, in amounts from $880,000 to
$1,170,000 and at interest rates of from 4.500% in 2008 to 5.200% in 2013; $3,260,000,
5.375% term bonds maturing November 1, 2016; $2,485,000, 5.600% term bonds
maturing November 1, 2019; and $12,310,000, 5.600% term bonds maturing November
1, 2025. Interest is payable on May 1 and November 1 of each year. The Series A Bonds
maturing on or before November 1, 2009, are not subject to optional redemption prior to
maturity. The series A bonds maturing on or after November 1, 2010, are subject to
redemption as a whole or in part, by such maturities as the Agency designates, prior to
their respective maturities at the option of the Agency on any date on or after November
1, 2009, from funds derived by the Agency from any source, at the following redemption
prices (expressed as percentages of the principal amount of the Series A Bonds called for
redemption) together with accrued interest thereon to the date fixed for redemption.
?'").
hi ICULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(3) Long,-Term Liabilities. (Continued)
Redemption Period Redemption Price
November 1, 2009 through October 31, 2010 102%
November 1, 2010 through October 31, 2011 101%
November 1, 2011 and there after 100%
The Series A Bonds maturing on November 1, 2016, November I, 2019, and November
1, 2025, are also subject to redemption prior to their stated maturity, in part by lot from
Series A sinking Account Installments deposited in the Series A sinking Account at the
principal amount thereof and interest accrued thereon to the date fixed for redemption
without premium in amounts front $1,225,000 to $4,870,000.
1999 Series B Tax Allocation Refunding Bonds (uninsured) — The outstanding 1999
Series B Revenue Bonds were redeemed through the issuance of the 2005 Tax Allocation
refunding Bonds in November 2005.
2002 Series A Tax Allocation Bonds
In April 2002, the Agency issued $28,280,000 of Series A Bonds (MBLA insured) to
finance eligible projects within the merged Culver City Redevelopment Project. The
Bonds are secured by and payable from tax revenues from the Agency's Merged Culver
City Redevelopment Project.
The bonds consist of serial bonds that mature on November 1 as follows: a total of
$17,225,000 that matures from 2007 to 2020, in amounts from $910,000 to $1,665,000
and at interest rates from 4% in 2007 to 5.5% in 2020 and term bonds for $6,290,000
maturing in 2025, at an interest rate of 5.125%. Interest is payable on May 1 and
November 1 of each year.
The 2002 Bonds maturing on or before November 1, 2011, are not subject to optional
redemption prior to maturity. Those maturing on or after November 1, 2012, are subject
to redemption as a whole or in part, by such maturities as the Agency designates, prior to
their respective maturities, at the option of the Agency, on any date on or after May 1,
2011, at the following redemption prices (expressed as percentages of the principal
amount of the bonds called for redemption) together with accrued interest thereon to the
date fixed for redemption.
23
1/CCULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(3) Long-Term Liabilities, (Continued)
Redemption Period Redemption Price
May 1, 2011 through April 30, 2012
101%
May 1, 2012 and thereafter
100%
The term bonds maturing on November 1, 2025 are also subject to mandatory redemption
prior to their maturity, in part by lot, from sinking account installments deposited in the
Sinking Account, at the principal amount thereof and interest accrued thereon to the date
fixed for redemption, without premium, in amounts from $1,015,000 to $1,760,000.
In lieu of redemption of any term bond, amounts on deposit in the Special fund or in the
Sinking Account therin may be used and withdrawn by the Trustee at any time, upon the
written request of th Agency, for the purchase of such term bonds.
2004 Series A Tax Allocation Refunding Bonds (insured)
The 2004 Series A Tax Allocation Refunding Bonds were issued for a total of
$83,470,000, to defease 1993 bonds consisting of Serial bonds that Mature on November
1 in the years 2007 through 2023, in amounts from $105,000 to $8,630,000 and at interest
rates from 2.0% to 5.0%. The bonds are secured by and payable from tax revenues from
the Agency's Merged Culver City redevelopment Project.
The 2004 Bonds maturing on or before November 1, 2014, are not subject to optional
redemption prior to maturity. Those maturing on and after November 1, 2015, are subject
to redemption as a whole or in part, by such maturities as the Agency designates, prior to
their respective maturities, at the option of the Agency, on any date on Or after November
1, 2014, at the following redemption prices (expressed as percentages of the principal
amount of the bonds called for redemption) together with accrued interest thereon to the
date fixed for the redemption.
Redemption Period Redemption Price
November 1, 2015 and thereafter 100%
")4CULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(3) Lou-Term Liabilities_ (Continued)
2005 Tax Allocation Refunding Bonds
On November 1, 2005, the Culver City Redevelopment Agency issued $17,315,000 Tax
Allocation Refunding Bonds Issue of 2005. These bonds were issued to redeem
outstanding Subordinate tax Allocation Refunding Bonds 1999 Series B. A total of
$16,956,394 was placed in escrow and invested in securities pending the December 28,
2005, redemption date. At the time of redemption, the requisition price exceeded the net
carrying amount of the old debt by $261,394. This amount is being netted against the
new debt and amortized over the remaining life of the new debt which is the same as the
remaining life of the old debt. The cash flows required to service the old debt was
$3,923,108 less than the cash flows required to service the new debt.
The bonds are secured by and payable from tax revenues from the Agency's Merged
Culver City Redevelopment Project and were issued in denominations of $5,000 with
interest rates ranging from 3.50% to 5.0%. Interest payments are payable semiannually
on May 1 and November 1, of each year, and commenced May 1, 2006. Principal
payments are made on November 1 of each year and range from $220,000 to $290,000
through the year 2021.
Optional Redemption: The 2005 Bonds maturing on or before November 1 2015, are not
subject to optional redemption prior to maturity. The 2005 Bonds maturing on and after
November 1, 2015, are subject to redemption as a whole or in part, by such maturities as
the Agency designates, prior to their respective maturities at the option of the Agency on
any date on or after November 1, 2014, from funds derived by the Agency from any
source, at a redemption price equal to the principal amount of the 2005 Bonds called for
redemption together with interest accrued thereon, without premium.
Mandatory redemption: The 2005 bond maturing on November 1, 2023 and November 1,
2025, are also subject to redemption prior to their stated maturity, in party by lot, from
Sinking Account Installments deposited in the Sinking Account, at the principal amount
thereof and interest accrued thereon to the date fixed for redemption, without premium.
1/7CULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(3) Long-Term Liabilities. (Continued).
The annual requirements to amortize the tax allocation bonds are as follows:
Year
Ending
June 30
1993 Tax Allocation 1999 Tax Allocation 2002 Tax
Refunding Revenue Bonds Refunding Revenue Bonds Allocation Bonds
Principal Interest Principal Interest Principal Interest
2009 $ - 1,552,376 920,000 1,289,215 945,000 1,114,044
2010 4,100,000 1,439,626 960,000 1,245,495 985,000 1,074,827
2011 4,325,000 1,207,937 1,005,000 1,198,313 1,025,000 1,032,731
2012 4,560,000 963,600 1,055,000 1,147,315 1,070,000 986,875
2013 4,815,000 705,788 1,105,000 1,092363 1,115,000 937,713
2014 5,070,000 433,950 1,170,000 1,034,165 1,170,000 884,837
2015 5,355,000 147,262 1,225,000 970,823 1,225,000 827,956
2016 1,295,000 903,098 1,280,000 766,862
2017 - 740,000 848,417 1,345,000 697,875
2018 - 780,000 806,680 1,420,000 621,838
2019 830,000 761,600 1,495,000 541,675
2020 875,000 513,860 1,575,000 457,250
2021 - 925,000 663,460 1,665,000 368,150
2022 - 970,000 610,400 1,760,000 277,262
2023 455,000 570,500 1,015,000 206,153
2024 480,000 544,320 1,065,000 152,853
2025 - 4,610,000 401,800 1,195,000 94,940
2026 4.870,000 136,360 1,255,000 32,159
Totals $28,225,000 6,450,539 24,270,000 14 938 574 22,605 000 11,076,000
26
110CULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(3) Long.-Term Liabilities, (Continued)
2005 Tax Allocation
Refunding Bonds
Year
Ending
June 30
2004 Tax
Refunding R
Allocation
evenue Bonds
Principal Interest Principal Interest
2009 $ 4,040,000 2,998,312 175,000 812,576
2010 105,000 2,916,199 180,000 806,364
2011 110,000 2,913,442 185,000 799,514
2012 115,000 2,910,273 195,000 792,401
2CH 3 115,000 2,906,708 200,000 784,988
2014 120,000 2,902,843 210,000 776,788
2015 125,000 2,898,553 220,000 768,188
2016 5,775,000 2,751,913 225,000 758,726
2017 6,685,000 2,440,413 235,000 748,694
2018 7,020,000 2,131,133 245,000 739,241
2019 7,300,000 1,837,503 255,000 728,959
2020 7,605,000 1,524,422 270,000 717,963
2021 7,925,000 1,192,428 280,000 706,276
2022 8,270,000 842,168 290,000 694,163
2023 8,630,000 472,436 1,435,000 652,125
2024 6,350,000 141,288 4,100,000 513,750
2025 6,965,000 237,125
2026 1,260.000 31.500
Totals $70.290,000 33.780,034 16.925,000 12,069,611
Advance from City of Culver City
In June 2007, the City made a $9,000,000 cooperation loan to the Agency with a one year
term at a rate of 51% per annum. The Agency made an annual interest payment of
$528,000 in June 2008. Due to the current economic environment, the City approved a
deferment of loan payment as the request of the Agency. As a result, the loan balance of
$9,000,000 to the City is classified as a long-term liability as of June 30, 2008.
Developer Loan Payable
In August 2004, the Agency received a loan of $1,200,000 secured by a deed of trust on
real property pursuant to a Disposition and development Agreement to provide funding
for the Town Plaza Project, which includes a movie theater. The loan accrues interest at
12% interest and is repaid monthly from the theater's cash flow after expenses and partial
expenditures. Residuals following the loan payment are paid to the Agency to reimburse
the cost of construction per a monthly schedule including interest on an unsecured basis.
Remaining theater cash flows following the above expenditures are paid 75% to the
Agency and 25% to the developer.
1/4CULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
c3) LonQ-Term Liabilities, (Continued)
Real Estate Loan Payable
In December 2006, the Agency received a loan for $1.55 million that accrues interest at
5.5% with principal and interest due in three years. The loan is secured by a deed of trust
on the property that the Agency purchased from the seller.
(4) Advances To/From Other Funds
For the three years ending June 30, 2006, the State of California required the
Redevelopment Agency to pay the total of $5,498,000 to the County of Los Angeles
administrated Education Revenue Augment Fund (ERAF). It also allowed the
redevelopment Agency to borrow 50% of that amount from the Agency's Low/Moderate
Income Housing Fund. Thus this Special Revenue Fund has loaned the Capital Projects
Fund $2,749,000 to be repaid at a term no longer than ten (10) years without interest.
Advances To Other Funds Advances From Other Funds Amount
Capital Projects Fund
Special Revenue Fund $2,748,693
(5) Loans Receivable
On July 10, 1989, the Agency entered into Owner Participation Agreements for the sale
and redevelopment of real property within the Component Area No. 3 and has recorded a
loan receivable.
On December 17, 1990, the Agency provided a loan of $880,500 to a mobile home park
that included affordable housing tenants to assist in acquiring title to mobile home park
land in Culver City. The Loan bore simple interest at the rate of 7% per annum on the
original balance from the date of the disbursement for total principal and accrued interest
due of $1,497,678. Loan payments were deferred for the first ten years. Monthly
principal and interest payments of $11,377 were made starting January 2001. The note
was restructured in August 2004 with a remaining balance of $1,223,901. Payments are
deferred without interest until March 2024 after which monthly payments resume. This
Agency loan is in third position behind a Bank of America first trust deed note and a loan
from the California Department of housing and Community development.
1CULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(5) Loans Receivable (continued)
In March of 1994, the Agency's Housing division began a mortgage assistance program
to provide deferred second trust deeds to qualified low-and moderate-income level
families. The term of these loans is 20 years and accrues interest at 5% per annum. Both
interest and principal payments are deferred for the first five years.
In September of 1994, the Agency received a promissory note for relocation costs paid by
the Agency on behalf of a local business relocated within the redevelopment area. The
note bears interest at 6.1038%, compounded annually and is payable over 30 years.
The Group Home Program makes funds available for the establishment of group homes
that serve special populations, such as the developmentally disabled. As of 1993, the
Agency had funded three group homes. The Agency uses housing set-aside funds to
support this program. Principal on these loans is deferred for 40 years and forgiven
provided the covenants for low-income housing are met. The three Group Home loans
are as follows:
Loan recipient Loan Date Loan Amount
ERAS February 1, 1991 $305,000
HOME April 1, 1992 412,000
WOW October 1, 1992 388,000
The City of Culver City has been helping residents preserve their homes and
neighborhoods since 1977. Through Agency funding, the Housing Division offers grants
and loans to qualified homeowners to assist with making needed home improvements and
repairs. The Housing Division currently has one Neighborhood Preservation Program
Loan Outstanding.
The Agency deposits funds with the Bank of America to allow the bank to make certain
compensating balance loans on a subsidized basis. As homeowners repay principal
balances on such loans, the bank released such funds back to the Agency.
The Agency offers an economic development incentive program to provide financial
assistance to property and business owners for physical improvements to existing
buildings located within a redevelopment component area in the city. The amount of
such financial assistance loans are not intended to be more than is needed to "close the
gap" for funding meaningful improvements, not more than the economic benefit to be
realized by the City and Agency in new or increased taxes. The agency has made a total
of seven such loans. These GAP loans are deferred and may be forgiven, if certain
economic benchmarks are achieved.
The Agency provides assistance to business owners to rehabilitate property within a
redevelopment area in the City. The Agency had one such loan secured by a deed of trust
on the property.
29
ICULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(6) Capital Assets
Capital asset activity for the year ended June 30, 2008 is as follows:
Governmental Activities:
Buildings
Improvements
Equipment
Infrastructure
Balances at
July 1,2007 Additions Deletions
Balances at
June 30, 2008
$ 15,794,506
127,458
11,516
7,500
221,535
-
-
-
16,016,041
127,458
11,516
7,500
Total cost of depreciable
assets 15,940,980 221.535 16,162,515
Less accumulated depreciation:
Buildings (893,262) (315,890) (1,209,152)
Improvements (11,153) (6,373) (17,526)
Equipment (2,879) (1,439) (4,318)
Infrastructure (262) (150) - (412)
Total accumulated
depreciation (907.556) (323.852) - (1.231,408)
Net depreciable assets
15,033,424 (102,317) 14,931,107
Capital assets, not depreciated:
Construction in Progress 514,725 1101.058 (221,535) 3,394,248
Capital assets, net $ 15,548.149 2.998,741 2.2 ,2,215 18 325 355_
Depreciation expense of $323,852 was charged to community development expense in
the statement of activities.
30
1,0CULVER CITY REDEVELOPMENT AGENCY
Notes to the Basic Financial Statements
(Continued)
(7) Transfers In/Transfers Out
The following schedule summarizes the Agency's transfer activity:
Transfers In
Low/Mod Housing Fund
Debt Service Fund
Capital Projects Fund
Transfers Out
Capital Projects Fund
Capital Projects Fund
Low/Mod Housing Fund
Total
Amount
$ 6,277,543 (a)
12,579,323 (b)
652A90
9 509 356
(a) Transfers were made to set aside 20% of the total tax increment which is required to
be set aside for low/moderate income housing.
(b) Transfers were made for the payment of principal, interest, and associated expenses
related to the Agency's bonded indebtedness.
31REQUIRED SUPPLEMENTARY DATA
32CULVER CITY REDEVELOPMENT AGENCY
Notes to the Required Supplementary Information
Year ended June 30, 2008
(1) Budgets and Budgetary Data
The adopted budget of the City consists of a resolution specifying the total appropriation
for each departmental activity.
Total appropriations for each fund may only be increased or decreased by the City
Council by passage of a resolution amending the budget, with the exception of budget
adjustments which involve offsetting revenues and expenditures. In cases involving
offsetting revenues and expenditures, the Chief Financial Officer is authorized to increase
or decrease an appropriation for a specific purpose where said appropriation is offset by
unbudgeted revenue which is designated for said specific purpose. During the year, there
were supplemental budgetary appropriations amounting to $2,802,000
The City Manager and Assistant City Managers have authority to adjust the amounts
appropriated between the depaLtuients and activities of a fund, objects within each
departmental activity and between accounts within the objects, provided, however, that
the total appropriations for each fund may not exceed the amounts provided in the budget
resolution.
The level on which expenditures may not legally exceed appropriations is the fund level.
All appropriations lapse at fiscal year-end unless City Council takes formal action in the
form of a resolution to continue the appropriation into the following fiscal year.
Budgets for the various funds are adopted on a basis consistent with generally accepted
accounting principles (GAAP). Annual appropriated budgets are legally adopted for the
special revenue, capital projects, and debt service funds.
33
1CULVER CITY REDEVELOPMENT AGENCY
Low/Moderate Income Housing Special Revenue Fund
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Year ended June 30, 2008
Budget
Actual
Variance-
Positive
(Negative) Original Final
Revenues:
Investment income
$ 576,000 576,000 588,495 12,495
Charges for services 75,000 75,000 70,500 (4,500)
Total revenues 651,000 651,000 658,995 7,995
Expenditures:
Current:
Community development 6,023,730 6,023,730 2,765,703 3,258,027
Capital outlay 5,516,971 5,516,971 114,756 5,402,215
Total expenditures 11,540,701 11,540,701 2,880,459 8,660,242
Excess (deficiency) of
revenues over (under)
expenditures (10,889,701) (10,889,701) (2,221,464) 8,668,237
Other financing sources (uses):
Transfers in 6,214,000 6,214,000 6,277,543 63,543
Transfers out (789,344) (789,344) (652,490) 136,854
Total other financing
sources (uses) 5,424,656 5,424,656 5,625,053 200,397
Net change in fund balances (5,465,045) (5,465,045) 3,403,589 8,868,634
Fund balances at beginning of year 23,408,140 23,408,140 23,408,140
Fund balances at end of year $ 17,943,095 17,943,095 26,811,729 8,868,634
:34
11"24CULVER CITY REDEVELOPMENT AGENCY
(A Component Unit of the City of Culver City)
COMPUTATION DP LOW AND MODERATE
INCOME HOUSING FUNDS
EXCESS/SURPLUS
Low and Moderate Low and Moderate
Housing Funds - All Project Areas Housing Funds - All Project Areas
7/1/2007 7/1/2008
$ 23,408,141 $ 19,981,547
Opening Fund Balance
Less Unavailable Amounts:
Land held for resale $ (4,117,728) $ (4,250,649)
ERAF loans (2,748,530) (2,748,693)
Unspent debt proceeds (Section 33334.12 (g)(3)(B)) (206,918) (172,048)
Rehabilitation loans (1,282,639) (1,260,310)
(8,355,815) (8,431,700)
Available Low and Moderate Income Housing Funds
15,052,326 11,549,847
Limitation (greater of $1,000,000 or four years set-aside)
Set-Aside for last four years:
2007-2008 6,277,543
2006-2007 5,692,215 5,692,215
2005-2006 5,181,142 5,181,142
2005-2004 4,594,190 4,594,190
2003-2004 4,514,000
TOTAL $ 19,981,547 $ 21,745,090
Base Limitation $ 1,000,000 $ 1,000,000
Greater amount 19,981,547 21,745,090
Computed Excess/Surplus None None
35Mayev Hoffman McCann
An Independent CPA Firm
2301 Dupont Drive, Suite 200
Irvine, California 92612
949-474-2020 ph
949-263-5520 fx
www.nihrn-pc.corn
Honorable Chair and Members of the Governing Board
Culver City Redevelopment Agency
Culver City, California
REPORT ON COMPLIANCE AND OTHER MATTERS AND ON INTERNAL CONTROL
OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
We have audited the financial statements of the Culver City Redevelopment Agency ("Agency")
as of and for the year ended June 30, 2008, and have issued our report thereon dated November
30, 2008. We conducted our audit in accordance with auditing standards generally accepted in
the United States of America and the standards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Agency's financial statements are
free of material misstatements, we performed tests of its compliance with certain provisions of
laws, regulations, contracts and grant agreements, noncompliance with which could have a direct
and material effect on the determination of financial statements amounts. Such provisions
included those provisions of laws and regulations identified in the Guidelines for Compliance
Audits of California Redevelopment Agencies, issued by the State Controller and as interpreted in
the Suggested Auditing Procedures for Accomplishing Compliance Audits of California
Redevelopment Agencies, issued by the Governmental Accounting and Auditing Committee of
the California Society of Certified Public Accountants. However, providing an opinion on
compliance with those provisions was not an objective of our audit and, accordingly, we do not
express such an opinion. The results of our tests disclosed no instances of noncompliance or
other matters that are required to be reported under Government Auditing Standards'.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the Agency's internal control over financial
reporting in order to determine our auditing procedures for the purpose of expressing our opinion
on the financial statements and not to provide an opinion on the internal control over financial
reporting. Accordingly, we do not express an opinion on the effectiveness of the Agency's
internal control over financial reporting.
A control deficiency exists when the design or operation of a control does not allow management
or employees, in the normal course of performing their assigned functions, to prevent or detect
misstatements on a timely basis.
36
1-0 9Honorable Chair and Members of the Governing Board
Culver City Redevelopment Agency
Page 2
A significant deficiency is a control deficiency, or combination of control deficiencies, that
adversely affects the Agency's ability to initiate, authorize, record, process, or report financial
data reliably in accordance with generally accepted accounting principles such that there is more
than a remote likelihood that a misstatement of the Agency's financial statements that is more
than inconsequential will not be prevented or detected by the Agency's internal control. We
communicated significant deficiencies to the management of the City of Culver City in a separate
letter dated December 15, 2008.
A material weakness is a significant deficiency, or combination of significant deficiencies, that
results in more than a remote likelihood that a material misstatement of the financial statements
will not be prevented or detected by the Agency's internal control.
Our consideration of the internal control over financial reporting was for the limited purpose
described in the first paragraph of this section and would not necessarily disclose all deficiencies
in internal control that might be significant deficiencies or material weaknesses. We did not
identify any deficiencies in internal control over financial reporting that we consider to be
material weaknesses, as defined above.
We noted certain other matters we reported to the management of the City of Culver City in a
separate letter dated December 15, 2008.
This report is intended solely for the information of the City Council, Management of the City of
Culver City, federal awarding agencies and pass-through entities and is not intended to be and
should not be used by anyone other than these specified parties:
g
ead,e4 //egypt,y,
Irvine, California
December 15, 2008
37ATTACHMENT NO. 4
CULVER CITY REDEVELOPMENT AGENCY
BLIGHT ALLEVIATION REPORT for FISCAL YEAR 2007-08
Pursuant to Health & Safety Code 33080.1 (d)
The following property was acquired:
11054 Washington Boulevard
The Agency spent $1,152,000 on this effort.
The following properties were demolished:
National Boulevard:
Washington Boulevard:
Exposition Boulevard:
Centinela Avenue:
Colonial Avenue:
8842,
8803
8829,
4061,
4064
8846,
8831,
4063
8840,
8839,
8836-38, 8828,
8841, 8843
8824,
The Agency spent $396,748 on this effort.
Other blight alleviating activities of included:
• Funding of street improvements including street resurfacing, and replacement of
deteriorated curbs, gutters and driveway approaches. Areas which were
improved included Washington Boulevard between Elenda Avenue and
Sepulveda Boulevard and Culver Boulevard between Jasmine Avenue and
Keystone Avenue.
The Agency spent $677,336 on these efforts.
• Funding of additional police patrols within the Redevelopment Project Area, to
improve the safety and security of the area.
The Agency spent $325,000 on this effort.
13e,ATTACHMENT NO. 5
CULVER CITY REDEVELOPMENT AGENCY
LOAN REPORT for FISCAL YEAR 2007-08
Pursuant to Health & Safety Code 33080.1 (e)
The following loans made by the Agency in excess of $50,000 are either delinquent or
not in compliance with the terms of the loan approved by the Redevelopment Agency:
Property:
9715 Washington Boulevard
Date of Loan:
December 7, 1998
Original Principal:
$80,000.00
Status:
In default as of June 30, 2008
1 A /ATTACHMENT NO. 6
CULVER CITY REDEVELOPMENT AGENCY
REAL PROPERTY REPORT for FISCAL YEAR 2007-08
Pursuant to Health & Safety Code 33080.1 (f)
The following seven pages contain a list of all real property owned by the Culver City
Redevelopment Agency.CULVER CITY REDEVELOPMENT - LIST OF PROPERTIES
Parcel Reference Location/Address Parcel Size Present Use
Purchase
Amount/ Date Land Use Notes and Disposition Summary
Comp.
Area
Fund
Staff Contact
Public Parking $1,669,360/ Opened 2000, Managed by the Agency, owned 3 City Chris Evans -
Structure 397 spaces: 4- 1997-98 by the City as public parking. Monthly and 998 253-5744
levels customer parking available.
PARKING STRUCTURE/LOTS
CARDIFF PARKING STRUCTURE 36,417 SF
3846 Cardiff Avenue (1.31 acres)
4206-028-900,901,005
INCE PARKING STRUCTURE 51,640 SF Public Parking Lot $3,650,000/ Opened 9/12/2003. Managed and owned by the 3 City Chris Evans -
9099 Washington Blvd. (1.19 acres) 1979-1985 Agency, as public parking. Monthly and 99855 253-5744
4206-032-926 customer parking available. Agreement with 50
Oliver McMillan to provide 199 spaces free to
staff of Trader Joe's and Pacific Theatres.
VIRGINIA LOT 50,038 SF* Parking Lot $536,657/ 1979- Public parking lot by permit only. 36 spaces 3 550 Chris Evans -
10401-10601 Virginia Ave. (1.14 acres) 136 spaces 1982 leased to 10555 Jefferson until April 2027; 5 253-5744
4209-027-905 , 4209-029-900 & 923-925 spaces allocated to Rotary Plaza for seniors; all
remaining spaces are rented to adjacent
businesses. The Agency contracts for valet
parking in this lot to increase its capacity,
WATSEKA PARKING STRUCTURE 22,478 SF Public Parking $970,607/ 1984- Managed by the Agency, owned by the City as 3 550 Chris Evans -
3844-48 & 3864 Watseka Ave. (.51 acres) Structure 330 - spaces; 89 public parking. Monthly and customer parking 253-5744
4207-001-900-904 5-levels available.
VENICE PARKING LOT 12,500 SF Parking Lot $551,900/ Property located in Los Angeles; purchased with John Fisanotti -
9415-25 Venice Blvd. (.29 acres) 30 spaces 10/1997 and upon sale return proceeds to Component 253-5767
4313-019-900-903 Area No. 3 funds. Property is available for
overflow Downtown parking and Culver Theatre
bus parking per Centre Theatre Group DDA.
CANFIELD PARKING LOT
3825 Canfield Avenue
Parking Lot Managed by the Agency as monthly parking. 3 550 Chris Evans -
28 spaces 253-5744
Page 1 of 7CULVER CITY REDEVELOPMENT - LIST OF PROPERTIES
Parcel Reference Location/Address Parcel Size Present Use
Purchase
Amount/ Date Land Use Notes and Disposition Summary
Comp.
Area
Fund
Staff Contact
3713-15 ROBERTSON BLVD. 3,375 SF Public Parking Lot $69,600/ Lot is adjacent to Del Taco. Meter funds 3 550 John Fisanotti -
4206-033-916-917, 926-928 (.08 acres) 8 metered spaces 12/1981 collected by Culver City Police Dept. 253-5767
3727 ROBERTSON BLVD/ADJ. 1,020 SF Parking Lot (part of 3757 Currently used by Musician's Choice, for 3 550 John Fisanofti -
4206-033-925 (.02 acres) 3 spaces purchase) parking. 253-5767
3757 ROBERTSON BLVD. 7,622 SF Public Parking Lot $414,268/ 5 Parking lot for businesses within the 3 550 John Fisanotti -
4206-033-921 (.17 acres) 32 spaces 8c 6/1985 Hoke/Willat Business Triangle. Monthly 253-5767
parking only - single spaces and tandem pair.
GENERAL AGENCY PROPERTIES
Landscaped Area No land cost Remnant property south of Machado at 2
Sepulveda Blvd.
FORMER STUDIO DRIVE-IN 16,168 SF
PROPERTY REMNANT PIECE (.37 acres)
4215-001-904
LANDSCAPED BUFFER 43,686 SF Landscaped Buffer Landscaped buffer with "Cougars" sculpture. 1
So. Side of Slauson Ave. between Hannum (1.00 acres) (Park/ Landscape Buffer)
& 90 Fwy.
4134-020-903
FOX HILLS SIGN 440 SF 1 550
Bristol Parkway @ Centinela Ave. Vacant land with sign $3,500/ Rock garden to be created with funding by
4134-440-018-002 and trees 2/2006 Corporate Point
BALLONA CREEK REMNANT 2 550
Overland @ Ocean 73,547 SF Vacant land, fenced $62,768/ Purchased through Tax Default Sale, maintained
4205-026-001 (1.8 acres) adjacent to creek 8/2005 by LLMD
LA BALLONA CREEK PARCEL 2,100 SF Easement - Used for Located in the La Ballona Creek and is subject N/A Todd Tipton -
4205-005-909 (.05 acres) flood control purposes to an LA County easement. To be conveyed to 253-5783
the City,
LA BALLONA CREEK PARCEL 92, 783 SF Easement - Used for Parcel is in the La Ballona Creek. LA County N/A Todd Tipton -
4209-030-901-902 (2.13 acres) flood control purposes has an easement on entire site. 253-5783
Page 2 of 7CULVER CITY REDEVELOPMENT - LIST OF PROPERTIES
Parcel Reference Location/Address Parcel Size Present Use
Purchase
Amount/ Date Land Use Notes and Disposition Summary
Comp.
Area
Fund
Staff Contact
PROJECT PROPERTIES
BALD WIN MOTEL 8,318 SF Vacant Land $980,000/ DDA with Axis Mundi RE II, LLC signed 4 550 John Fisanotti -
12823 Washington Blvd (.19 acres) 3/2005 February 7, 2008. 253-5767
4236-021-007
12813 WASHINGTON BOULEVARD 4,996 SF Vacant Land $760,000/ DDA with Axis Mundi RE II, LLC signed 4 550 John Fisanotti -
APARTMENT COMPLEX (.11 acres) 3/2005 February 7, 2008, 253-5767
4236-021-008
4,996 SF Vacant Land $945,000/ DDA with Axis Mundi RE II, LLC signed 4 550 John Fisanotti -
12811 WASHINGTON BOULEVARD (.11 acres) 1/2006 February 7, 2008. 253-5767
APARTMENT COMPLEX
4236-021-009
12803 WASHINGTON BOULEVARD 5,772 SF Vacant Land $925,000/ DDA with Axis Mundi RE II, LLC signed 4 550 John Fisanotti -
COMMERCIAL BUILDING (.13 acres) 12/2005 February 7, 2008. 253-5767
236-021-010
SHELL/TAYAN 16,540 SF Vacant land $2,230,000/ Acquired to be part of Project. Demolished. 4 553 Joe Susca -253-
12343 Washington Blvd. (.38 acres) 5/2006 Polanco Act has been used for Brownfield clean- 5763
4232-009-018 up.
12337 WASHINGTON BOULEVARD 3,267 SF Vacant land $600,000/ Acquired to be part of Project. Demolished. 4 550 Joe Susca - 253-
Michel's Flower Shop/ Martinez (.08 acres) Settlement 5763
4232-009-018 Agreement
12/06
US LIQUOR SITE/W00 38,9774 SF Vacant land $4,873,975/ Acquired to be part of Project. Eminent Domain 4 553 Joe Susca - 253-
12403-12423 Washington Blvd/ (.9 acres) OPP on June Proceedings, Demolished. 5763
4061 Centinela Avenue 27, 2006
4231-002-044 to 049, 051, 061
Page 3 of 7CULVER CITY REDEVELOPMENT - LIST OF PROPERTIES
Parcel Reference Location/Address Parcel Size Present Use
Purchase
Amount/ Date Land Use Notes and Disposition Summary
Comp.
Area
Fund
Staff Contact
CLAUSON RESIDENTIAL 8,310 SF Vacant land $1,200,000 City acquired to be part of Project. Demolished. 4 101 Joe Susca -253-
4064 Colonial 4231- (.19 acres) 4/06 5763
002-060
WASHINGTON/NATIONAL
Empty Lot $4,429,701/ N/A 101 Chris Evans -
2/08 Acquired by City with Agency funds (March 10, 253-5744
2006). Part of Redevelopment Project.
METRO MOTEL/Patel 32,845 SF
8846 National Blvd (.76 acres)
4312-014-010, 020, 046, 047, 048, 053
8841 EXPOSITION 2,496 SF Empty Lot $1,036,210/ Acquired by Agency, part of Redevelopment 3 553 Chris Evans -
BOULEVARD/Winkler 4312- (0.6 acres) 5/06 Project. 253-5744
014-041
8842 NATIONAL 2,496 SF Empty Lot $550,000 Acquired by Agency, part of Redevelopment 3 553 Chris Evans -
BOULEVARD/Feldman 4312- (0.6 acres) 6/06 Project. 253-5744
014-021
2,500 SF ( Empty Lot $625,450/ Acquired by Agency, part of Redevelopment 3 550 Chris Evans -
8839 NATIONAL BOULEVARD/FTWS 08/06 Project. 253-5744
4312-014-040
8836-8838 NATIONAL 5,000 SF Empty Lot $1,200,000/ Acquired by Agency, part of Redevelopment 3 550 Chris Evans -
BOULEVARD/BARD1N (.11 acres) 7/06 Project. 253-5744
4312-014-0023, 024
8840 EXPOSITION 2,500 SF Empty Lot $554,657/ Acquired by Agency, part of Redevelopment 3 550 Chris Evans -
BOULEVARD/Waldin (0.06 acres) 8/06 Project. 253-5744
4312-014-022
12,201 SF Empty Lot $2,028,633/ Acquired by Agency, part of Redevelopment 3 550 Chris Evans -
8830 NATIONAL BOULEVARD/Sato (.29 acres) 8/06 Project. 253-5744
4312-014-059
8831 EXPOSITION 7,500 SF Empty Lot $3,034,966/ Acquired by Agency, part of Redevelopment 3 550 Chris Evans -
BOULEVARD/Malakzad (.17 acres) 8/06 Project, 253-5744
4312-014-039
Page 4 of 7CULVER CITY REDEVELOPMENT - LIST OF PROPERTIES
Parcel Reference Location/Address Parcel Size Present Use
Purchase
Amount/ Date Land Use Notes and Disposition Summary
Comp.
Area
Fund
Staff Contact
8829 EXPOSITION 2,500 SF Empty Lot $610,000/
BOULEVARD/Vorgeack 4312-014- (0.6 acres) check to return
038 $410,00|109| 553 Chris Evans -
253-5744
Acquired by Agency, part of Redevelopment
Project.
8843 EXPOSITION 2,500 SF Empty Lot $525,000/ Acquired by Agency, part of Redevelopment 3 553 Chris Evans -
BOULEVARD/Chiat 4312-014- (0.6 acres) deposited with Project. 253-5744
042 State
8824, 8825, 8828 NATIONAL 24,289 SF Empty Lot $5,579,450/ Acquired by Agency, part of Redevelopment 3 Chris Evans -
BOULEVARD; (.75 acres) deposited with Project. 253-5744
8801, 8803 WASHINGTON BLVD/ State
Sttrfas
4312-014-027, 029, 030, 058
PARCEL 'B' 9300 50,830 SF Public Parking Lot - $1,728,947 DDA approved with Rush Pacifica LLC to sell 3 550 Joe Susca - 253-
Washington Boulevard 4206-029- (1.17 acres) 141 spaces (Parcel B) site to them for $5.9M Future use of site is a 3- 5763
930 ($1,3775,555 story mixed-use development.
realignment)
TOWN PLAZA DOWNTOWN Just over 1 Public Plaza N/A (former Agency owned, City maintained. An Easement Joe Susca - 253-
Acre City public in perpetuity and also a 60-year Right of Access 5763
rights-of-way) Agreement have both been entered into with
Rush Pacifica.
PASEO 9527 CULVER BLVD 2,500 SF Public Walkway Paseo $200,000/ Public Paseo and to be utilized by Wonderful 3 550 John Fisanotti -
4207-001-904 (.05 acres) & Outdoor Dinning 2/1997 World of Animation/Tender Greens and Ford's 253-5767
Filling Station for outdoor dining, through
license agreements with the Agency.
KIRK DOUGLAS THEATRE 14,400 SF Live Theatre $1,593,771/ Building has been renovated subject to DDA 3 550 Susan Obrow -
9820 Washington Blvd. (.33 acres) 1985 with Center Theatre Group for live theatre reuse. 998 253-5762
4207-006-914 Open to the public in October 2004. Sixty year
lease for building.
Page 5 of 7CULVER CITY REDEVELOPMENT - LIST OF PROPERTIES
Parcel Reference Location/Address Parcel Size Present Use
,
Purchase
Amount/ Date Land Use Notes and Disposition Summary
Comp.
Area
Fund
Staff Contact
9814 WASHINGTON BLVD. 6,590 SF Vacant Single Family $280,000/ 1995 Currently leased to Center Theatre Group for ten 3 550 Chris Evans -
4207-006-915 (.15 acres) Residence years through 2013. 253-5744
IVY SUBSTATION/ MEDIA PARK 80,108 SF Park and Historic No land cost/ Long term lease with City of Los Angeles for N/A Susan Obrow -
9070 Venice Blvd. (1.839 Building Rehabilitation use of media Park and Ivy - Live Theatre 253-5762
4206-030-902 & 4206-034-904 acres)
IMIEZISEMIIIIMIIIIIMEN111111111
11056 WASHINGTON 19,760 SF Used to be $3,250,000/ Agency paid $1,700,000 and has a note to pay 4 550 John Fisanotti -
BOULEVARD/Alcseirod (.40 acres) Pleasantview Group 12/06 remainder $1,550,000 within 36 months. 253-5767
4213-007-003 Home, now vacant
11054 WASHINGTON 3,000 SF Two-story Office/ $1,052,000 Structure to be demolished. 4 John Fisanotti -
BOULEVARD/Tapp (.069 acres) Residential June, 2008 253-5767
4213-007-002
$1,010,000/ Used for Low-Mod and Low income rental N/A 554 Tevis Barnes -
11/02 units. 253-5782
HOUSING PROPERTIES
JACKSON AVENUE APARTMENTS 13,496 SF Residential 9 units
4031-35 Jackson Avenue 4209-001-(.31 acres)
903
9743-49 BRADDOCK DR. & 4075 8,800 SF Residential 5 units $665,864/ 9/90 Lease with Home Ownership. Made Ealsy 3 550 Tevis Barnes -
LAFAYETTE PL 4207-008-914- (.20 acres) (HOME) to manage properties. No revenue 253-5782
916 received ($1.00 a year).
4044 GLOBE AVENUE 4233-033- 5,060 SF Single Family Home $385,000 Home sold due to Cal Trans widening of 405 N/A 554 Tevis Barnes -
014 (.12 acres) 4/05 freeway. 253-5782
4048 GLOBE AVENUE 4233-033- 4,880 SF Vacant Lot $388,000 Agency will remodel and sell for first time home N/A 554 Tevis Barnes -
003 (.11 acres) 4/05 buyers. 253-5782
4050 GLOBE AVENUE 4233-033- 4,620 SF Single Family Home $380,000 Number of homes that will be sold needs to be N/A 554 Tevis Barnes -
004 (.11 acres) 4/05 determined. 253-5782
Page 6 of 7CULVER CITY REDEVELOPMENT - LIST OF PROPERTIES
Parcel Reference Location/Address Parcel Size Present Use
Purchase
Amount/ Date Land Use Notes and Disposition Summary
Comp.
Area
Fund
Staff Contact
4054 GLOBE AVENUE 4233-033- 5,024 SF Single Family Home $480,000 Garages, need to be built, one home demolished. N/A 554 Tevis Barnes -
005 (.12 acres) 4/05 253-5782
4058 GLOBE AVENUE 4233-033- 5,330 SF Single Family Home $480,000 Depending on level of sale (low or low-mod) N/A 554 Tevis Barnes -
006 (.12 acres) 4/05 will determine sale price. 253-5782
4062 GLOBE AVENUE 4233-033- 5,400 SF Single Family Home $470,000 Required to wait for 405 Freeway work to be N/A 554 Tevis Barnes -
007 (.12 acres) 4/05 completed. 253-5782
4068 GLOBE AVENUE 4233-033- 5,330 SF Single Family Home $520,000 Required to wait for 405 Freeway work to be N/A 554 Tevis Barnes -
008 (.12 acres) 4/05 completed. 253-5782
Page 7 of 7