HomeMy WebLinkAboutMINUTES - 09132011 - D.2RECOMMENDATION(S):
1. ACCEPT report on the options for the County redevelopment program as recommended
by the Finance Committee;
2. DETERMINE that the proposed action to adopt Ordinance No. 2011-17 is exempt from
the California Environmental Quality Act (CEQA) pursuant to 14 Code of California
Regulations Section 15378(b)(4));
3. AUTHORIZE and DIRECT the Department of Conservation & Development to file a
Notice of Exemption under CEQA with the County Clerk upon adoption of Ordinance No.
2011-17; and
4. INTRODUCE Ordinance No. 2011-17 authorizing the County's participation in the
Alternative Voluntary Redevelopment Program and continuing the operations of the Contra
Costa County Redevelopment Agency; WAIVE reading, and FIX September 20, 2011 as
the date for adoption.
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 09/13/2011 APPROVED AS RECOMMENDED OTHER
Clerks Notes:See Addendum
VOTE OF SUPERVISORS
AYE:John Gioia, District I
Supervisor
Gayle B. Uilkema, District II
Supervisor
Mary N. Piepho, District III
Supervisor
Karen Mitchoff, District IV
Supervisor
Federal D. Glover, District V
Supervisor
Contact: Steve Goetz,
925-335-1240
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board
of Supervisors on the date shown.
ATTESTED: September 13, 2011
David Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen, Deputy
cc:
D. 2
To:Board of Supervisors
From:Finance Committee
Date:September 13, 2011
Contra
Costa
County
Subject:Consider report from the Finance Committee on options for the County redevelopment program.
FISCAL IMPACT:
Ordinance No. 2011-17 would continue the County Redevelopment Agency and continue
to direct certain property tax revenue from increases in assessed valuation in the project
areas to the Agency for the purpose of removing blight from these areas. These property
tax revenues would otherwise be distributed to the County General Fund and other
non-county taxing entities (e.g. special districts and schools). In current (2011) dollars
over the next 25 years, the net fiscal impact of continuing the Agency would involve
directing approximately $91 million in future property tax revenue from the project areas
to the Agency for removing blight. Of this revenue, approximately $18 to 21 million
would come from future tax revenue that would otherwise go to the County General
Fund; and approximately $60 to 65 million would come from future tax revenue that
would otherwise go to special districts and schools. These estimates do not include future
property tax revenue already committed to paying off bonds and other existing
enforceable obligations of the Agency. These revenue amounts are very approximate and
reflect the results of conflicting sections of the bill regarding how revenue from the
dissolved Agency is to be passed on to various parties. These conflicting sections will
need to be resolved in subsequent legislation.
BACKGROUND:
On June 29, 2011, the Governor approved the State Budget for FY2011-12 and signed a
number of implementing trailer bills. Two of these trailer bills significantly modify
California Community Redevelopment Law and fundamentally alter the future of
California redevelopment: ABx1 26 (the Dissolution Act) and ABx1 27 (the Voluntary
Program Act) (together, the Redevelopment Restructuring Acts). The Dissolution Act
immediately suspends all new redevelopment activities and incurrence of indebtedness,
and dissolves redevelopment agencies, effective October 1, 2011. The Voluntary
Program Act then allows redevelopment agencies to avoid dissolution under the
Dissolution Act by opting in to an “alternative voluntary redevelopment program” (the
Voluntary Program) that requires annual contributions to local schools and special
districts. The Redevelopment Restructuring Acts represent a compromise by allowing
redevelopment programs to continue while dedicating some of their revenue to augment
the budgets of schools and special districts.
On July 12, 2011, the Board of Supervisors requested the Finance Committee
(Committee) to evaluate future options available to the Board under the Redevelopment
Restructuring Acts. The Committee met on two occasions to evaluate whether the
County should: 1) "Opt-In" and elect to participate in the Voluntary Redevelopment
Program, or 2) "Opt-Out" and allow the Agency to dissolve and distribute a portion of
future property tax revenue generated in the project areas to the County General Fund,
special districts and schools.
The Committee's evaluation was completed using reports prepared by County staff and
their consultants. A copy of the report submitted for the Committee's meeting on August
30, 2011 is included as Exhibit B. This Exhibit includes some revisions the Committee
requested be made to Table 4 and to the PFM Group portion (See Attachment A to
Exhibit B). These revisions included additional detail on tax increment revenue generated
by the project areas, assumptions for future development in the project areas and
additional detail on existing pass through payments made to special districts and the
schools.
The Committee would like to highlight the disposition of tax increment revenue
generated by the project areas under the various scenarios as shown in Exhibit C. This
information is drawn from the PFM Group material and shows what happens to the tax
increment under the Opt-In (Agency Continues) and Opt-Out (Agency Dissolves)
scenarios. This exhibit also appears in the County staff report (see Table 4 of that report).
The Committee also discussed the status of the action of the California State Supreme
Court which is considering a lawsuit filed by the California Redevelopment Association
and other parties challenging the validity and constitutionality of the Redevelopment
Restructuring Acts. The Court has issued a stay on most aspects of the new laws except
the sections suspending the activities of redevelopment agencies and requiring these
agencies to file an Enforceable Obligations Payment Schedule. Agencies can only spend
funds consistent with this payment schedule as it may be amended from time to time. The
Court has pledged to decide on the lawsuit by January 2012, prior to the deadline for the
first continuation payment required under the Voluntary Redevelopment Program.
County staff and their consultants will be available to review for the Board the
information reviewed by the Committee. The Committee agrees with the following
findings of the staff report:
The Agency can meet its financial obligations and remain a significant tool for
removing blight under the Voluntary Program;
1.
Financial benefits to the General Fund, special districts and schools are significant
under the Opt-Out scenarios, but are also somewhat uncertain; and
2.
Under either the Opt-In or Opt-Out scenarios, action must be taken now to ensure
that debt service obligations for the Bay Point and Montalvin Manor project areas
are met.
3.
An explanation of the Committee's recommendations follows.
Adopt the Continuation Ordinance: This ordinance allows the Board to continue
redevelopment activities in the project areas under the Voluntary Program established by
the State. This ordinance is conditioned on the Supreme Court removing the stay and
supporting the Redevelopment Restructuring Acts. The cash flow analysis shows the
State’s Voluntary Program provides an acceptable compromise for continuing a local
redevelopment program while providing additional property tax revenue to other taxing
entities serving project areas. Sufficient tax increment will be available (in aggregate) to
not only fund existing obligations, but to also fund continuation payments to other taxing
entities and to help fund project area needs for jobs, affordable housing, infill and
transit-oriented development, cleaning and reusing blemished sites, and reducing crime.
Any future activities in these areas, however, will be more limited when compared to our
past activities.
Recommendations for action on September 20, 2011: The following three bulleted
recommendations would be scheduled as consent items for the Board's consideration
following adoption of the Ordinance No. 2011-17 which would also occur on September
20, 2011.
AUTHORIZE the Director of Conservation and Development, to file a notice of
enactment of a Ordinance No. 2011-17 with the Director of the State Department of
Finance, the State Controller, and the County Auditor Controller;
APPROVE and AUTHORIZE the execution of a Conditional Agency Transfer
Payment Agreement with the Agency pursuant to Part 1.9 of the Redevelopment
Law; and
APPROVE and AUTHORIZE the execution of various conditional contracts and
contract amendments between the County and the Agency to be included in the
Agency’s Statement of Indebtedness no later than October 1, 2011.
The Conditional Agency Payment Agreement provides for the Agency to transfer
sufficient funds to the County for the required Continuation Payments. The Committee
proposes that the revenues identified for the continuation payment be submitted to the
Committee for review and a recommendation to the Board. This would most likely occur
as part of the Board's adoption of the Agency's budget. In addition, County staff will
submit various long-term contracts between the Agency and the Board on the use of
future tax increment revenue for funding staff costs and infrastructure improvements that
would be included in the Agency's Statement of Indebtedness due to the State Controller
on October 1, 2011. These contracts will be consistent with the 25-year cash flow
analysis prepared by the PFM Group. All actions are conditioned on the Supreme Court
removing the stay and supporting the Redevelopment Restructuring Acts.
The following two recommendations are scheduled as a separate item on September 13,
2011 to be considered by the Agency Board of Directors.
Authorize the study of a Redevelopment Plan Amendment to merge the project
areas : This recommendation initiates actions to address the near term financial
problems facing the Bay Point and Montalvin Manor project areas and reassess the
Agency’s long term program. By continuing the Agency, a strategy can be
developed and implemented to resolve these near term financial problems and
develop a more realistic plan for the use the nearly $130 million (present value) in
tax increment revenue for infrastructure, housing and economic development
purposes during the next 25 years. The Committee believes this can be best
accomplished by merging all the project areas into one project area.
Direct staff to report to the Finance Committee on progress implementing the
Voluntary Redevelopment Program in the County: Agency staff can report to the
Committee on matters of the budget and of restructuring the redevelopment agency.
The Committee will make reports to the Board as appropriate.
On September 20, 2011, an item will be listed on the agenda to consider approving a
study evaluating the potential merger of Redevelopment areas within the County, as
recommended by the Finance Committee.
CONSEQUENCE OF NEGATIVE ACTION:
If the Board does not approve these recommendations and does not take any alternative
actions by October 1, 2011, the Agency will dissolve. The events described in the
Opt-Out scenario on page 8 of the staff report (Exhibit B), would play out.
CHILDREN'S IMPACT STATEMENT:
Continuing the Agency would result in directing additional future property tax revenue
from the project areas to schools. This additional funding, however, is not without some
uncertainty. The State has the ability in the future to reduce its funding to schools by an
amount equivalent to the tax increment generated by dissolving the Agency.
CLERK'S ADDENDUM
Steve Goetz, Department of Conservation and Development, presented the staff report
on options for the County redevelopment program as recommended by the Finance
Committee. Chair Uilkema noted that there were related materials regarding
Redevelopment Agency tax allocation bonds in the Closed Session agenda which the
Board had not yet reviewed completely today. Chair Uilkema consulted with County
Counsel and the County Administrator, who advised this discussion should take place
before considering the recommendations in this report; therefore this matter was
CONTINUED to September 20, 2011.
ATTACHMENTS
Exhibit B
Exhibit C
Powerpoint
Ord. No. 2011-17
Page 1 of 15
CONTRA COSTA COUNTY
DEPARTMENT OF CONSERVATION & DEVELOPMENT
651 Pine Street, N. Wing - 4th Floor
Martinez, CA 94553
Telephone: 335-1290 Fax: 335-1300
TO: Finance Committee
FROM: Steven L. Goetz, Deputy Director – Redevelopment, Conservation & Transportation
Programs
DATE: August 30, 2011 (updated)
SUBJECT: Future Options under Redevelopment Restructuring Statute
This is an updated version of the report reviewed by the Committee on August 17, 2011.
Revisions have been made to Tables 1 and 4, and the PFM Report (Attachment A). Revisions to
the body of this staff report are shown using italic type font. (Revisions discussed by the
Committee on August 30 are shown in using track changes).
On June 29, 2011, the Governor approved the State Budget for FY2011-12 and signed a number
of implementing trailer bills. Two of these trailer bills significantly modify California
Community Redevelopment Law and fundamentally alter the future of California
redevelopment: ABx1 26 (the Dissolution Act) and ABx1 27 (the Voluntary Program Act)
(together, the Redevelopment Restructuring Acts). The Dissolution Act immediately suspends
all new redevelopment activities and incurrence of indebtedness, and dissolves redevelopment
agencies, effective October 1, 2011. The Voluntary Program Act then allows redevelopment
agencies to avoid dissolution under the Dissolution Act by opting in to an “alternative voluntary
redevelopment program” (the Voluntary Program) that requires annual contributions to local
schools and special districts. The Redevelopment Restructuring Acts represents a compromise
by allowing redevelopment programs to continue while dedicating some of their revenue to
augment the budgets of schools and special districts.
On July 12, 2011, the Board of Supervisors requested the Finance Committee to evaluate future
options available to the Board under the Redevelopment Restructuring Acts. This staff report
informs the Finance Committee of the options for the Agency and their potential implications to
the County. This report is organized as follows:
• Overview of the County Redevelopment Agency Program and its Fiscal Challenges;
• Overview of the Redevelopment Restructuring Acts;
• “Opt-In” Option – Continuation of the Agency under the Voluntary Program;
• “Opt-Out” Option – Dissolution of the Agency;
• Findings and Recommendation.
This report was prepared with the assistance of the Redevelopment Agency’s (Agency) legal
counsel, financial consultant, and tax consultant. The report has also been reviewed by the
County’s financial consultant.
Page 2 of 15
It is also worth mentioning that on July 19, 2011, the California Redevelopment Association, the
League of California Cities, the City of Union City, the City of San Jose and John Shirey (as an
individual taxpayer) filed a lawsuit challenging the validity and constitutionally of the
Redevelopment Restructuring Acts. The lawsuit was filed directly with the California Supreme
Court to accelerate the ultimate court decision and includes a request that the Court issue a
“stay” or injunction to prevent specified aspects of the Redevelopment Restructuring Acts from
being operative pending the final court decision on the merits of the lawsuit. The requested stay
would delay the dissolution and opt-in timelines in the Acts (including dates for payment of opt-
in payments), but is not expected to affect the suspension status of agencies while the lawsuit is
pending. It is not known whether or when the Court will issue a stay or final decision.
If the lawsuit is successful, and both ABx1 26 and ABx1 27 are declared unconstitutional,
adopted opt-in ordinances will be inoperative by operation of law or can be rescinded, and
redevelopment agencies will return to normal operations under the law as it existed prior to the
adoption of the Redevelopment Restructuring Acts. For this report, County staff is assuming this
state legislation will be implemented as enacted.
Overview of County Redevelopment Agency and its Fiscal Challenges
The FY2010-11 budget for the Contra Costa County Redevelopment Agency (Agency) is
approximately $84.1 million. Multiple revenues are being used to address redevelopment and
community improvement needs. The Agency budget has been portrayed visually in the
following three charts:
Chart A – Agency Budget by Project Type
Chart B – Agency Budget by Project Area
Chart C – Agency Budget by Revenue Source
Two major issues that significantly affect Agency revenue are the deterioration of the property
tax base within four of the five project areas since 2007, and the take of redevelopment revenue
by the State of California to augment the budget of the State, schools and special districts.
Similar to the County most of the Agency’s redevelopment areas have incurred a significant loss
of property tax base due to the housing and mortgage foreclosure issues. From FY2007-08 to
FY2010-11 the Agency’s annual revenues have dropped in four of the five project areas because
of drops in assessed value. The table below and Chart D—Tax Increment History by Project
Area - reflects the severity of the deterioration:
Project Area Revenue Change – FY 08 to FY 11
Contra Costa Centre plus 36.0%
North Richmond minus 29.5%
Bay Point minus 55.3%
Rodeo minus 33.5%
Montalvin Manor minus 81.0%
Page 3 of 15
Chart A
AGENCY BUDGET BY PROJECT TYPE
Pay to Others
$3,926,553
Debt Repayment
$8,956,000
Future Debt Reserves
$14,224,399
Capital Projects
$26,782,918
Economic Development
$11,496,609
Housing
$12,631,701
Planning
$664,547
Administration
$1,838,000
Community Improvement
$3,582,095
Chart B
AGENCY BUDGET BY PROJECT AREA
North Richmond
$21,564,598
Bay Point
$15,608,973
Rodeo
$16,559,341
Montalvin Manor
$3,097,507
Contra Costa Centre
$27,272,403
Page 4 of 15
Chart C
AGENCY BUDGET BY REVENUE SOURCE
Tax Increment, $33,192,523
Bonds, $44,894,844
Other, $5,015,455
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
Contra Costa Centre North Richmond Bay Point Rodeo Montalvin
Chart D
TAX INCREMENT HISTORY BY PROJECT AREA
FY 08
FY 09
FY 10
FY 11
FY 12 Estimates
Page 5 of 15
The Agency identified a deteriorating revenue base as an issue in FY2009 and began making
administrative changes to mitigate the impact. However, the severity of the downturn in revenue
in Bay Point and Montalvin Manor in particular has been far in excess of worst-case scenarios
incorporated into previous budget planning. In addition, the State of California took an
aggregate of $2.05 billion statewide in redevelopment revenue for FY2009-10 and FY2010-11.
The Agency’s share of this revenue shift was $6.3 million in FY2009-10 and $1.3 million in
FY2010-11, funds the Agency was intending to use to mitigate revenue loss, thereby further
stressing to the Agency’s financial position going forward. Standard and Poor’s acknowledged
these financial stresses by lowering the Agency's bonded indebtedness rating. Citing
"deterioration in the regional real estate market" Standard and Poor's downgraded the rating on
the Agency's 2007 A & A-T Bonds from A- to BB+; and the 2007 B Bonds (Housing Set-Aside)
from BBB to B.
For the Bay Point project area, which has experienced significant tax base loss, the Agency is
evaluating alternative approaches to mitigating the effects of the revenue shortfalls. Such
alternatives might include restructuring and/or refunding outstanding bond issues, deferring
pass-through payments to other taxing entities, borrowing internally from special revenue
accounts of the County, or merging the Bay Point project area with one or more of the other
project areas. The impact of cash flow problems for Bay Point will be discussed in more detail
in the following sections of this report.
Montalvin Manor also has cash flow problems, but the amounts are much smaller than Bay
Point’s revenue shortfalls.
The Redevelopment Agency’s financial consultant, PFM Group, has prepared a cash flow
analysis for each of the project areas. That analysis is contained in Attachment A to this report.
It describes assumptions used to assess whether the Agency could afford to meet its existing
obligations and the additional continuation payments required by the State’s new Voluntary
Program. An assumption was made concerning use of approximately $33.6 million in unspent
bond proceeds available to the Agency. Approximately $10.3 million is dedicated to complete
construction of projects already committed through third party contracts. The balance of bond
proceeds is used to reduce outstanding bond indebtedness. Staff considers these assumptions
appropriate for a general assessment of the long term financial implications of opting-in or
opting out of the Voluntary Program.
Overview of Redevelopment Restructuring Acts
ABx1 26 is the Dissolution Act and has the most immediate effect. As of June 28th, this statute
suspended most activities of the Agency until a Successor Agency is established on or after
September 1. This suspension period prohibits most redevelopment activities, including:
• Incurring new or restructuring existing indebtedness;
• Making loans or grants;
• Entering into or amending existing agreements; and
• Transferring funds/assets or acquiring real property.
Page 6 of 15
If the County does not “opt-in” under the Voluntary Program by October 1, 2011, the
redevelopment agency is dissolved and the Successor Agency must:
• Liquidate all assets of the Agency;
• Ensure future payments of enforceable obligations that are not otherwise terminated (which
specifically do not include agreements between an Agency and the County); and
• Report to an Oversight Board, the State Controller and the Department of Finance.
The statute requires the creation of an Oversight Board to monitor activities of the local
Successor Agency. It is comprised of seven members. For county redevelopment agencies, two
are appointed by the Board of Supervisors, two are appointed by the County Superintendent of
Schools, one is appointed by the Chancellor of California Community Colleges, one is appointed
by the largest special district serving the territory covered by the Agency, and one former
Agency employee is appointed by the Board of Supervisors. It is important to note that school
districts and special districts represent a majority of the Oversight Board membership. Among
other things, the Oversight Board is authorized to direct the Successor Agency to determine if
any of the Agency’s Enforceable Obligations can be terminated or renegotiated.
After the redevelopment agency is dissolved, the County Auditor-Controller must:
• Conduct an audit of the former agency’s assets and liabilities by March 1, 2012;
• Annually determine the amount of property tax increment that would have been allocated to
the agency and deposit that amount in a Trust Fund; and
• Annually allocate moneys in the Trust Fund to the Successor Agency to pay pass through,
enforceable obligations and administrative costs, with any remaining balance allocated to
taxing entities as property taxes.
ABx1 27 is the Voluntary Program Act. A sponsoring community (i.e. the city or county that
formed the redevelopment agency) that wishes to continue its redevelopment activities can “Opt-
In” to the Voluntary Program which requires making a “continuation payment” to the State in
FY2011-12, and annual continuation payments to schools and special districts thereafter. The
County must adopt an ordinance or declare its intent to opt-in by October 1, 2011.
The County’s redevelopment attorney, Goldfarb & Lipman, has prepared a more detailed
summary of ABx1 26 and ABx1 27, which is included as Attachment B to this report.
“Opt-In” Option – Continuation of the Agency under the Voluntary Program
The Voluntary Program is designed to generate $1.7 billion for FY2011-12 and $400 million
statewide in each subsequent year if every sponsoring community/redevelopment agency in the
State agrees to participate. The formula for calculating each sponsoring
community/redevelopment agency’s share is similar, but not identical, to the formula used to
calculate each redevelopment agency’s share of the statewide $1.7 billion and $350 million
Special Educational Revenue Augmentation Fund (SERAF) obligations in FYs 2009-10 and
2010-11 respectively. The State Department of Finance has provided information about the
FY2011-12 continuation payment for each sponsoring community. The amount for Contra Costa
County in FY2011-12 is approximately $5,300,000. In subsequent years, the continuation
Page 7 of 15
payment is estimated to be roughly $1,250,000 (subject to adjustments under a complicated
formula to the extent the Agency incurs new non-Housing fund debt or other obligations on or
after October 1, 2011).
If the County adopts an Opt-In ordinance, the County must make the continuation payments to
the County Auditor-Controller on behalf of the Agency. As such, the Agency Board and the
County would also need to approve a remittance agreement that would only require the County
to make the continuation payment assuming the Agency transferred sufficient funds to the
County to make such payments.
Continuation payments may be made from any available funds of the sponsoring community.
For FY2011-12, the continuation payment can include Agency tax increment that would
ordinarily have been set aside for housing activities. For FY2011-12 only, a redevelopment
agency will be exempt from making its full deposit into the Low and Moderate Income Housing
Fund (and not required to repay unmade deposits), but only to the extent that it makes a finding
that there are insufficient other monies to meet its debt and other obligations, current priority
program needs, or its obligations to reimburse the County for that year’s remittance. Clean-up
legislation may alter this and require repayment of funds to the Low and Moderate Income
Housing Fund.
County staff has identified options for the FY2011-12 payment of $5.3 million. The continuation
payments from a sponsoring community and its redevelopment agency participating in the
Voluntary Program are due in equal installments each fiscal year by January 15 and May 15.
Potential sources of funds proposed by staff for the County are described in Table 1. Based on
comments from the Committee, termination of the resident deputy program has been deleted
from further consideration. The FY2011-12 payment would be made by:
• reallocating funds that have not been secured through 3rd party contracts;
• reducing reserves;
• deferring loan repayments; and
• using a portion of the tax increment received for Low and Moderate Income Housing Fund.
The ongoing annual payments of approximately $1,250,000 would be made beginning in
FY2012-13 from Agency property tax increment receipts. These payments were incorporated
into the fiscal analysis conducted by the PFM Group. This fiscal analysis assumes that these
annual continuation payments will initially be apportioned to the Contra Costa Centre project
area. If the Board wishes to opt-in, it can provide alternative direction to staff on how to
generate the continuation payments for FY2012-13 and beyond.
The first year’s continuation payment is used to repay the State General Fund for State revenue
allocated to schools. Subsequent continuation payments will be allocated by the County
Auditor-Controller to taxing entities (other than the County) in the following manner: 15% to
certain special districts and 85% to school districts serving the project area. The taxing entities
serving the Agency’s project areas include:
Page 8 of 15
Table 1
POTENTIAL SOURCES FOR FY2011-12 CONTINUATION PAYMENT
AB 1X 27 Opt-In Payment $5,344,493
Sources:
Contra Costa Centre
Revenue Growth $490,000
Assessed valuation anticipated from recently completed
construction.
Unallocated Funds $12,532
Defer Civic Use $1,750,000 Free-up budgeted T.I. by deferring this project.
No Station Landing (one-time) $218,000 $218K available to budget in FY12
Reduce Business Relocation by 2/3 $400,000
County's obligation now likely to be much less than budgeted
amount.
Defer Alternative Access $139,044 Free-up budgeted T.I. by deferring this project.
No Debt Repayment $200,000 Debt is to a County Special Revenue Account.
Low & Moderate Income Housing Fund
For FY 12, Housing TI can be used for the payment - although
CCC housing TI is largely committed.
$3,209,576
60.1%
North Richmond
30% of Debt Service Reserve $435,000 About $1.5 million in Capital T.I. allocated for this purpose.
Unallocated Funds $92,215
No Community Preservation $250,000
No Indian Gaming Consultant $25,000
25% of Admin $109,000 FY11 layoffs not reflected in FY11 budget at $436K
Low & Moderate Income Housing Fund 342,000 For FY 12, Housing TI can be used for the payment.
$1,253,215
23.4%
Bay Point
$0
0.0%
Rodeo
30% of Debt Service Reserve $150,000 About $.5M in Capital TI allocated for this purpose.
No Community Preservation $5,000
No Community Group Funding $5,000
No Waterfront HazMat (one-time) $40,000
25% of Admin $103,000 FY11 layoffs not reflected in FY11 budget at $412K
Housing TI $312,000 For FY12, Housing TI can be used for the payment.
$615,000
11.5%
Montalvin Manor
$0
0.0%
JPA Taxable Bond Proceeds $540,000
10.1%
Total Sources $5,617,791
Coverage 105.1%
Note: TI = Tax Increment
Page 9 of 15
• Contra Costa County Fire Protection District (Contra Costa Centre, Bay Point, Montalvin
Manor, North Richmond)
• Rodeo-Hercules Fire District (Rodeo)
• BART District (all project areas)
• AC Transit District (North Richmond)
• West Contra Costa Unified School District (North Richmond, Montalvin Manor)
• John Swett School District (Rodeo)
• Mount Diablo Unified School District (Contra Costa Centre, Bay Point)
• Acalanes High School District and related elementary school districts (Contra Costa Centre)
• Contra Costa County Community College District (all project areas)
An agreement negotiated for the formation of the Rodeo project area provides full pass through
of property taxes allocated to the Rodeo-Hercules Fire District. An agreement negotiated for the
formation of the Bay Point project area provides full pass through of property taxes allocated to
the Contra Costa County Fire Protection District.
“Opt-Out” Option – Dissolution of the Agency
If the Board of Supervisors does not adopt an Opt-In ordinance, the Agency would be dissolved.
All contracts and loans between the Agency and the County would become unenforceable
obligations with limited exceptions. All transfers of assets from the Agency to the County that
occurred after January 1, 2011 must be returned to the Successor Agency. The County may elect
to assume the Agency’s housing functions and take over the non-cash housing assets of the
Agency, along with related rights, powers, liabilities, duties and obligations. If the County does
not elect to assume these functions, such housing functions and all related non-cash assets would
be transferred to the County Housing Authority pursuant to the Dissolution Act.
Impact to County Contracts - The County would experience a revenue loss from termination
of contracts with the Public Works Department for infrastructure improvements in the Rodeo and
North Richmond project areas. The new statute requires that payments made by the Agency to
the County after January 1, 2011 be refunded to the Successor Agency. Approximately
$175,000 would need to be refunded by the County to the Successor Agency for deposit in the
Trust Fund established by the County Auditor-Controller.
Impact to County Loans - Loans made from the County to the Agency would be unenforceable
obligations. Any payments made by the Agency after January 1, 2011 would be refunded to the
Successor Agency for deposit in the Trust Fund. Table 2 lists the remaining balances on these
loans, which are payable to County special revenue accounts for housing/community
revitalization.
Page 10 of 15
Table 2
COUNTY LOANS TO THE REDEVELOPMENT AGENCY
Loan Amount 1 Purpose
CCC housing site acquisition $2,018,608 Coggins Sq. Apts/Iron Horse Lofts
CCC land assemblage 600,000 Coggins Sq. Apts/Iron Horse Lofts
CCC housing site acquisition 508,901 1250 Las Juntas Way
N. Richmond loan 1,088,801 Administration
N. Richmond commercial center 1,016,386 Development assistance
N. Richmond housing loan 730,948 Development assistance
Bay Point loan 220,670 Administration
Rodeo loan 68,373 Administration
Rodeo land assemblage 1,000,000 Town Sq. Housing
Montalvin loan 94,589 Redevelopment Plan adoption
Montalvin loan 64,536 Administration
Total $6,431,813
Impact to Assets of the Agency - Table 3 provides a summary of existing assets that, if the
Agency is dissolved, would be subject to disposition at the direction of an Oversight Board not
controlled by the County and with the statutorily defined objective of maximizing proceeds for
the benefit of taxing entities. Although the County is one of these taxing entities, it is unclear
how this distribution would occur or what percentage of the proceeds the County would realize.
If the County chooses to adopt the Opt-In ordinance, the Agency would retain these assets and
have 100% control over their disposition.
Impact to Agreements of the Agency - The Opt-out option also has the potential to complicate
some of the business agreements made by the Agency, even if those agreements are Enforceable
Obligations. The Dissolution Act imposes a fiduciary responsibility on the Oversight Board as
to holders of enforceable obligations and as to the various County taxing entities. This dual
responsibility may result in an Oversight Board determination that its responsibility to holders of
enforceable obligations is limited by the conflicting responsibility to maximize property tax
revenues available to other taxing entities. In other words, the Oversight Board could arguably
direct the Successor Agency to terminate an agreement benefiting the County and/or a third-
party if the termination provided a greater benefit to the other taxing entities. Because of its
board makeup and its complicated charge, the Oversight Board (consisting mostly of
representatives of other taxing entities) reduces local control over existing business agreement
and generates uncertainty. Moreover, the Oversight Board’s activities are monitored and
controlled by the State Department of Finance, which further reduces County control and
certainty
1 As of June 30, 2010
Page 11 of 15
Table 3
AGENCY ASSETS SUBJECT OT FORFEITURE AND DISPOSITION
AT DIRECTION OF OVERSIGHT BOARD
Non-Housing Assets
Estimated
Value Note
1. Cash balances $9,410,139 All project areas
2. N. Richmond Health Clinic TBD Transferred to County after 1/1/11
3. Rodeo Health Clinic TBD Transferred to County after 1/1/11
Housing Assets
4. Housing fund cash balance $4,942,217 All project areas
5. CCC housing site TBD 1250 Las Juntas Way
6. Rodeo housing site TBD Town Square – Parker Avenue
7. Rodeo housing site TBD Willow Avenue
8. N. Richmond housing site TBD Heritage Point – Third & Grove
9. Bay Point housing sites TBD Orbisonia Heights
10. Affordable housing deed restrictions N.A. Required resale to low and
moderate income households.
By way of example, in at least three instances (Avalon Bay, Coggins Square, and the Park
Regency), the Agency has pledged future tax increment to ensure the financial feasibility and
strong management of the related housing projects. If the County opts-out, the Oversight Board
will have the opportunity to review each of those business agreements and determine whether or
not they should be continued, terminated or renegotiated. In the case of Avalon Bay, a
renegotiation could have a ripple effect on the ground lease resulting in the County’s loss of its
portion of the 99 year lease revenue stream currently dedicated to the County General Fund
(which has been estimated to be approximately between $500 and $750 million). If the County
opts-in, the business agreements associated with each of the transactions (including the County’s
portion of the Avalon Bay lease revenue stream) would not be at risk.
Impact to Implementation of the County General Plan – Historically, the County has used
redevelopment as a tool to implement the General Plan. The Agency has funded the preparation
of Specific Plans in three of its project areas, and has funded infrastructure improvements and
preparation of land for development pursuant to these Specific Plans. Under the Opt-out
scenario, this redevelopment tool will no longer be available for the five project areas. Currently
a Specific Plan is being developed to establish a planning framework and policy direction to
guide the transformation of more than 200 acres of blighted and underused industrial land in
unincorporated North Richmond into an attractive, safe, and vibrant residential neighborhood.
As now drafted, the Specific Plan assumes that the Redevelopment Agency would assume the
lead role in the financing and implementation of the needed infrastructure, facilities, and services
identified in the plan. This would include, among others:
Page 12 of 15
• Set up and execution of financing/implementation mechanisms;
• Acquire property, as required for development and public improvement purposes;
• Financing property acquisition and development of projects designed to fulfill affordable
housing requirements;
• Establish and execute Disposition, Development Agreements, Owner Participation
Agreements, for acquisition, predevelopment, construction, and permanent financing,
with developers and property owners to implement projects consistent with the Specific
Plan; and,
• Create specialized job training and employment opportunities programs and projects to
meet North Richmond’s needs.
Impact to Affordable Housing Activities - Historically, the County has used redevelopment as
a tool to implement the County’s Housing Element. State law requires 20% of the tax increment
generated in project areas to be passed through to the Low and Moderate Income Housing Fund.
As of June 30, 2009, this fund and other redevelopment revenue have facilitated the
construction of 868 affordable housing units (information on rehabilitated units was not available
for this report). In addition, the Agency is responsible for implementing many of the policies,
projects and programs that the County has relied upon for certification of the Housing Element
by the State Department of Housing & Community Development.
Findings and Recommendations
The fiscal analysis prepared by the PFM Group is intended to assist the County in evaluating
options under the Redevelopment Restructuring Act. This analysis illustrates the financial
implications to the County and the Agency under three scenarios on an order of magnitude basis.
The three scenarios are: 1) County opts-in and Agency continues, 2) Agency dissolves pursuant
to Section 34183 of the Dissolution Act – which continues current pass-thru payments, and 3)
Agency Dissolves pursuant to Section 34188, which discontinues current pass-thru payments.
Scenarios 2 and 3 reflect a potential conflict in the Dissolution Act which needs to be clarified.
The outcomes for these three scenarios are summarized in Table 4. While the project areas have
plan effectiveness limits that extend beyond the year 2036, this table is limited to that horizon-
year to be consistent with available projections of tax increment for the project areas.
Finding 1: The Agency can meet its financial obligations and remain a significant tool for
removing blight under the Voluntary Program. If the Agency continues, the revenue
expected to be received and the uses of such revenue between now and 2036 (in net present
value) are:
• $78 million in tax increment revenue for redevelopment, economic development and
affordable housing;
• $51 million in tax increment revenue for infrastructure improvements; and
• $95 million in local tax increment revenue will be received by taxing entities (other than the
County) pursuant to existing statutes and agreements.
In addition, the County will retain all housing and non-housing properties and assets to use for
the benefit of the project areas. The Agency will also retain all power and authority under
Redevelopment law to enter into and implement contracts.
Page 13 of 15
Table 4
DISPOSITION OF TAX INCREMENT REVENUE
(Dollars in $Millions Net Present Value thru 2036)
Agency
Continues
Agency
Dissolves 2
(34183)
Delta Agency
Dissolves
(34188)
Delta
Sources of Tax Increment
Tax Increment 310 310 0 310 0
Fund Balance 27 27 0 27 0
Total $327 $327 $0 $327 $0
Uses of Tax Increment
State Property
Tax
Administration
3 3 0 3 0
Debt Service 103 103 0 103 0
Net Non-Housing
Tax Increment 52 0 52 0 52
Housing Tax
Increment 26 0 26 0 26
Project Spending 51 38 3 13 38 13
TI Passed thru or
Redistributed to
General Fund 4
9 27 (18) 30 (21)
TI Passed thru or
Redistributed to
Special Districts
or Schools4
95 161 (65) 156 (60)
Successor Agency
Administration 0 7 (7) 9 (9)
Total Use of TI $340 $339 $1 $339 $1
2 In considering the net benefit to schools under the opt-out scenario, it is important to understand that because the
County schools will receive additional funds under the opt-out scenario, the State’s Proposition 98 obligation to fund
the County’s schools may be proportionately reduced. In other words, in an opt-out scenario, the State has the
opportunity to reduce its obligation to finance schools by an amount equivalent to the tax increment received by the
schools from the County, thereby eliminating any net benefit to the County’s schools. Similarly, the net benefits to
the County General Fund under an opt-out scenario may be reduced by the effects of the State’s realignment plans
adopted with the State Budget, which shifts State responsibilities to local governments without funding
appropriations.
3 “Project Spending” in the Opt-Out scenarios includes spending on infrastructure projects pursuant to 3rd party
contracts and business agreements with developers in the Contra Costa Centre project area.
4 Additional detail on pass-through of net tax increment to County General Fund, special districts and schools can
be found in Attachment A (pages 5 and 6 of the Financial Model Cover Memorandum by PFM Group and its
“Contra Costa County RDA Financial Model – Attachment F”).
Page 14 of 15
Finding 2: Financial benefits to Special Districts are significant under the Opt-Out
scenarios, but are also somewhat uncertain. If the Agency dissolves, taxing entities serving
the project areas are expected to receive the following between now and 2036 (in net present
value):
• $38 million to the County for enforceable contracts (i.e. infrastructure improvements and
housing subsidies) in project areas;
• Between $1827 and 2930 million to the County General Fund; and
• Between $156 and 172161 million to taxing entities (other than the County).
This finding is consistent with the purpose of California Redevelopment law, which was to carve
out a portion of a community’s property taxes for the benefit of a specific project area. Without
a redevelopment agency, that purpose could no longer be served.
The additional funding to the County General Fund and schools, however, is not without some
uncertainty. The State has the ability in the future to reduce its funding to schools by an
amount equivalent to the tax increment generated by dissolving the redevelopment agency.
Similarly, the net benefit to the County General Fund under an opt-out scenario may be reduced
by the effects of the State’s realignment plans adopted with the State Budget, which shifts State
responsibilities to local governments without funding appropriations. In addition, the ability of
the County to protect its share of the ground lease payments made in the Contra Costa Centre
project area may also be reduced by the actions of the Oversight Board which will be established
after the Agency is dissolved.
Finding 3: Under either the Opt-In or Opt-Out scenarios, action must be taken now to
ensure that debt service obligations for the Bay Point and Montalvin Manor project areas
are met. The detailed cash flow analysis provided in the PFM report shows that:
• If the Agency continues, the Bay Point tax increment revenue is likely to be insufficient to
meet both pass-thru and debt service payments for many years.
• If the Agency dissolves, the Successor Agency must withhold pass-through payments or
Dissolution Act distributions to taxing entities in order to meet Bay Point’s debt service
payments.
• Montalvin Manor cash flow problems are less severe and are unlikely to require withholding
payments to other taxing entities in order to meet debt service payments.
Recommendations: Staff proposes the Committee’s recommendation to the Board as follows:
1. Adopt a Continuation Ordinance to elect and implement participation by the County and the
Agency in the Voluntary Redevelopment Program;
2. File a notice of enactment of a Continuation Ordinance with the State Department of
Finance, State Controllers Office and the County Auditor-Controller;
3. Approve and authorize the execution of an Agency Transfer Payment Agreement with the
Contra Costa County to fund the Continuation Payment by the County;
4. Authorize preparation of agreements to be included in the Agency’s Statement of
Indebtedness no later than October 1, 2011 that will minimize the Agency’s exposure to
higher continuation payments in future years; and
Page 15 of 15
5. Authorize a study of alternative approaches, including the merger of one or more project
areas, for the purpose of structuring a more sustainable redevelopment program and for
amending the Agency’s five-year plans.
6. Direct staff to report to the Finance Committee on progress with implementation of the
Voluntary Redevelopment Program, including the FY2011-12 Agency Budget.
Recommendations 1-3 will allow the Board to continue redevelopment activities in the project
areas under the Voluntary Program established by the State. The cash flow analysis shows the
State’s Voluntary Program provides an acceptable compromise for continuing a local
redevelopment program while providing additional property tax revenue to other taxing entities
serving project areas. Sufficient tax increment will be available (in aggregate) to not only fund
existing obligations, but to also fund continuation payments to other taxing entities and to help
fund project area needs for jobs, affordable housing, infill and transit-oriented development,
cleaning and reusing blemished sites, and reducing crime. Any future activities in these areas,
however, will be more limited when compared to our past activities.
Recommendation 4 addresses a characteristic of the Continuation Payment formula which
requires increased payments to account for additional debt incurred by the Agency after October
1, 2011. Staff will use the cash flow analysis of the PFM Group to develop long-term
agreements for the general allocation of future tax increment to projects and other future
expenditures so as to reduce the Agency’s exposure to higher continuation payments.
Recommendation 5 will initiate actions to address the near term financial problems facing the
Bay Point and Montalvin Manor project areas and reassess the Agency’s long term program. By
continuing the Agency, recommendations can be developed to resolve these near term financial
problems and develop a more realistic plans for the use of the over $130 million (present value)
in tax increment revenue for infrastructure, housing and economic development purposes during
the next 25 years.
Recommendation 6 will enable the Finance Committee to monitor progress made in
implementing the Voluntary Redevelopment Program in the County. Agency staff can report to
the Committee on matters of the budget and of restructuring the redevelopment agency. The
Committee can make reports to the Board as appropriate.
ATTACHMENTS
A: AB 26 x1 and 27 x1 Financial Model Cover Memorandum, PFM Group, August 29, 2011
B: Summary of Enacted State Budget Legislation Regarding Redevelopment (ABx1 26 and
ABx1 27), Goldfarb & Lipman, July 20, 2011
Public Financial Management, Inc.
PFM Asset Management LLC
PFM Advisors
50 California Street
Suite 2300
San Francisco, CA 94111
415 982-5544
415 982-4513 fax
www.pfm.com
September 1, 2011
Memorandum
To: Steven Goetz, Contra Costa County Department of Conservation and Development
From: Robert Gamble, Public Financial Management, Inc.
Michael Mandelbaum, Public Financial Management, Inc.
Re: AB26 x1 and 27 x1 Financial Model Cover Memorandum
At the request of the Contra Costa County Redevelopment Agency (the “Agency”) Public Financial
Management (“PFM”) has built a financial model to evaluate the long-term financial health of the
Agency and its Project Areas under a variety of proposed scenarios contemplated by the Agency.
These scenarios focus on providing the Agency a context within which it may consider its available
responses to two critical ongoing issues and decisions facing the Agency: 1) the substantial loss in
assessed valuation in four of the five project areas since 2007, and 2) the impact of the State’s
redevelopment restructuring statutes of 2011. This memorandum will provide an overview of the
assumptions and data used to compile this financial model and the implications its results have for
the financial stability of the Agency and its project areas.
BACKGROUND
One of the main focuses of this financial model is to help the Agency evaluate the near-term fiscal
solvency of its project areas, especially the Bay Point and Montalvin Manor Project Areas which
have been experiencing financial distress as a result of economic conditions since 2007. A primary
concern of the Agency no matter the future course chosen will be to ensure the ongoing viability of
all its project areas. As Bay Point and Montalvin Manor will continue to exhibit financial
vulnerability no matter the assumptions used in the analysis, this model attempts to quantify the
challenges facing the Agency’s project areas and allow the Agency to begin formulating potential
solutions to address these issues.
This analysis is also designed to help the Agency evaluate its future fiscal position in the context of
recent legislative changes taking place at the State level. On June 30, 2011, the Governor of the
State of California signed legislation approving a budget for the State for fiscal year 2011-2012. That
legislation included two measures (AB26 x1 and AB27 x1) directly affecting all redevelopment
agencies in the State, one of which effectively terminates each redevelopment agency, and the other
of which allows for the continued operation and functioning of redevelopment agencies with respect
to which the related community adopts an ordinance and commits to make certain payments to a
Special District Allocation Fund and an Educational Revenue Augmentation Fund for redistribution
to school districts and certain special districts (Continuation Payments). One of the main purposes
of this analysis is to help the Agency determine the financial impact of the decision on whether to
make the required payments in order to ensure the Agency can continue its current functions or to
forego making the payments and allow for the dissolution of the Agency with the related County
tax-sharing entities, including the County’s General Fund, school districts and special districts,
retaining the foregone tax increment revenue.
Financial Model Cover Memorandum
September 1, 2011
Page 2
ASSUMPTIONS AND CURRENT DATA
In constructing the financial model used to produce this analysis, PFM worked with Agency staff
and other members of the Agency’s financial team to develop the most up-to-date and accurate
assumptions possible given the current uncertainty regarding the new State legislation and general
economic/market uncertainty that will affect the future financial position of the Agency. This
portion of our memorandum will outline the assumptions used and the source of those assumptions
as well as any relevant explanations.
Tax Increment Revenue Projections
The starting point of this financial analysis was to develop tax increment revenue projections for
each of the Agency’s project areas. For our tax increment projections we relied on an analysis
prepared by Fraser and Associates, the Agency’s Fiscal Consultant, in November 2010 and used in
the Agency’s March 2011 Disclosure Statement. These projections provide an estimate of gross tax
increment revenue, property tax administration charge, 33676 pass-through payments, AB 1290
pass-through payments, negotiated tax sharing agreement payments (negotiated pass-thoughs) and
the 20% housing fund set-aside requirement for Fiscal Years 2011-12 through 2035-36. This
timeframe covers the repayment of the Agency’s outstanding bond indebtedness and represents the
longest term projections currently available for use in the model.
The tax increment projections were developed using the following assumptions:
• Project Area assessed value (AV) is set to the 2010-11 base value, kept flat (0% growth) for
2011-12 and then increased by 2% per year for the durations of the projections.
• FY 2010-11 assessed base values assumes no additional Proposition 8 adjustments and
assumes 50% of Proposition 8 adjustment values are reversed over a five-year term starting
in 2013-14.
• Includes the value of secured and unsecured personal property, state-assessed railroad and
non-unitary property.
• Tax increment revenue calculations are based on the application of the project area tax rates
to incremental taxable value.
• Includes each project area’s share of the County's property tax administrative costs per SB
2557.
• Includes all allocations to the taxing entities pursuant to Health and Safety Code Section
33676 (33676 pass-through payments).
• Includes all AB 1290 pass-through payments required per Section 33607.7 of Community
Redevelopment Law.
• Includes all other payments required as per negotiated tax sharing agreements.
• Includes housing set-aside payment equal to 20 percent of total tax increment.
Additional adjustments were made as necessary by project area to account for anticipated future
development (Contra Costa Centre) or the reversal of recent Proposition 8 adjustments (North
Richmond, Bay Point, Rodeo and Montalvin Manor). Specifically, the Contra Costa Centre Project
Area projections contain significant additions to assessed value based on the assumed completions
of the Avalon Project and its associated housing units and office building. For all other project areas
additions to assessed value were only made to represent the 50% reversal of previous Proposition 8
assessed value reductions and do not pertain to any assumed new development. These positive
Financial Model Cover Memorandum
September 1, 2011
Page 3
adjustments to assessed value have the impact of increasing tax increment revenue above the
assumed 2% growth to existing development. The following assessed value adjustments by project
area were included in the projections:
• Contra Costa Centre: $272 million between FY 2011-12 and FY 2017-18.
• North Richmond: $38.2 million between FY 2013-14 and FY 2017-18.
• Bay Point: $83.2 million between FY 2013-14 and FY 2017-18.
• Rodeo: $35.6 million between FY 2013-14 and FY 2017-18.
• Montalvin Manor: $15.0 million between FY 2013-14 and FY 2020-21.
The chart below summarizes the projected changes in assessed value and tax increment revenues
over the period from 2010-11 through 2015-16. Other than the Contra Costa Centre Project Area,
where the transit village development is under construction, no changes in assessed values are
assumed for 2011-12. Starting in 2012-13, assessed values have been increased at 2 percent per year.
In addition to the 2 percent trend, the partial reversals of Proposition 8 reductions are assumed
starting in 2013-14 for the North Richmond, Bay Point, Rodeo and Montalvin Manor Projects.
Contra Costa County RDA Project Area AV and TI Growth
Fiscal Year 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16
Contra Costa Centre
AV 828,735,462 891,209,982 927,422,712 968,942,166 1,011,292,009 1,031,517,849
AV Growth 7.54% 4.06% 4.48% 4.37% 2.00%
TI 8,246,007 8,858,892 9,183,713 9,579,125 9,980,864 10,165,283
TI Growth 7.43% 3.67% 4.31% 4.19% 1.85%
North Richmond
AV 235,395,239 235,395,239 240,103,144 252,545,807 265,237,323 278,182,669
AV Growth 0.00% 2.00% 5.18% 5.03% 4.88%
TI 1,956,829 1,953,670 1,997,832 2,119,461 2,243,178 2,369,021
TI Growth -0.16% 2.26% 6.09% 5.84% 5.61%
Bay Point
AV 385,590,435 385,590,435 393,302,244 417,814,689 442,817,382 468,320,130
AV Growth 0.00% 2.00% 6.23% 5.98% 5.76%
TI 2,215,067 2,211,098 2,284,611 2,526,388 2,772,211 3,022,808
TI Growth -0.18% 3.32% 10.58% 9.73% 9.04%
Rodeo
AV 267,331,791 267,331,791 272,678,427 278,131,995 290,975,191 304,075,251
AV Growth 0.00% 2.00% 2.00% 4.62% 4.50%
TI 1,725,676 1,722,542 1,773,128 1,896,176 2,021,284 2,150,114
TI Growth -0.18% 2.94% 6.94% 6.60% 6.37%
Montalvin Manor
AV 99,048,750 99,048,750 101,022,567 104,535,411 108,118,512 111,773,275
AV Growth 0.00% 1.99% 3.48% 3.43% 3.38%
TI 127,899 128,135 148,000 183,383 219,445 256,202
TI Growth 0.18% 15.50% 23.91% 19.66% 16.75%
All Project Areas Combined
AV 1,816,101,677 1,878,576,197 1,934,529,093 2,021,970,068 2,118,440,418 2,193,869,174
AV Growth 3.44% 2.98% 4.52% 4.77% 3.56%
TI 14,271,479 14,874,337 15,387,285 16,304,533 17,236,981 17,963,428
TI Growth 4.22% 3.45% 5.96% 5.72% 4.21%
Financial Model Cover Memorandum
September 1, 2011
Page 4
The chart shows both the growth in assessed values and also tax increment revenues. Because all of
the growth that is projected to occur will increase incremental values (values above the base year
value which remain frozen), the actual percentage increase in tax increment is higher than the
assumed growth rate for assessed values. This is most noticeable in those project areas that have a
very high base year value in relation to total value. For example, the assessed value for the
Montalvin Manor Project Area is assumed to grow by 2 percent in 2012-13. This translates to an
increase in tax increment of over 15 percent, since all of the growth is added to the incremental
value and resulting tax increment revenues. Bay Point and Rodeo show similar, though not quite as
dramatic increases in tax increment versus assessed values. For Bay Point, assessed values are
assumed to increase by 6.23 percent for 2013-14 (inclusive of Proposition 8 increases). But tax
increment is projected to grow at 10.58 percent.
If the analysis were to also include prior year changes in assessed values and tax increment, similar
patterns would be seen. For example, assessed values dropped in the Bay Point Project Area by 31
percent between 2008-09 to 2009-10. But tax increment dropped by over 200 percent.
For the purposes of this analysis we have excluded any line items for the Agency’s internal
administrative expenses related to ongoing operations. The resulting tax increment funds available
to the Agency as calculated by this model under an Opt-In decision will need to be sufficient to fund
Agency administrative costs in addition to project costs. These projections form the foundation for
this financial model and resulting analysis.
Fund Balance and Funds on Hand
In addition to forecasting the ongoing stream of tax increment revenue, this cash flow analysis also
takes into account the current project area fund balances and other available funds on hand such as
obligated bond proceeds and interest earnings. The following balances and accounting of funds on
hand by project area as of August 8, 2011 has been incorporated into the model:
Contra Costa County RDA Fund Balances by Project Area
Capital Fund Housing Fund Other Funds on Hand
Contra Costa Centre $4,449,480 $241,101 185,217
North Richmond $2,925,512 $1,539,881 1,555,550
Bay Point $164,213 $888,943 1,557,000
Rodeo $822,950 $1,874,065 1,217,087
Montalvin Manor $302,605 $121,285 105,228
Total $8,664,760 $4,665,275 $4,620,082
AB x1 27 Continuation Payments
The next step in determining the financial implications of adhering to the requirements of AB x1 27
in order for the Agency to continue operating was to estimate the AB x1 27 Continuation Payments
the Agency must make. The Fiscal Year 2011-12 Continuation Payment is set such that the State-
wide total is equal to $1.7 billion and is allocated amongst all of the State’s redevelopment agencies.
The State Department of Finance has calculated each redevelopment agency’s payment amount
pursuant to AB x1 27 and has calculated the Agency’s FY 2011-12 payment to be $5,302,681. For
discussion purposes Agency staff has provided us the breakdown by project area (and fund balance)
of the potential sources of the FY 2011-12 Continuation Payment presented on the following page:
Financial Model Cover Memorandum
September 1, 2011
Page 5
Contra Costa County RDA
FY 11-12 Continuation Payment
Sources:
Contra Costa Centre $3,289,576
North Richmond $1,200,215
Bay Point $0
Rodeo $406,000
Montalvin Manor $0
JPA Taxable Bond Proceeds $540,000
Total Sources $5,435,791
Coverage1 102.5%
1) Agency has slightly overfunded payment due to uncertainty
associated with some revenue sources
The legislation also provides a formula that agencies can use to estimate their FY 2012-13
Continuation Payment which is essentially the FY 2011-12 multiplied by a factor of 23.5294% and
adjusted for the projected growth experienced by the agency/project area’s tax increment.
Subsequent Continuation Payments are also adjusted for assumed growth. Using this formula PFM
has calculated the base component of the subsequent Continuation Payments to be $1,247,689.09
and adjusts this amount by the combined Agency tax increment growth contained in the underlying
tax increment projections. Based on the relative financial strength of the Agency’s project areas, we
have also made the simplifying assumption that all subsequent Continuation Payments will be made
from the Contra Costa Centre (67.2%), North Richmond (24.5%) and Rodeo (8.3%) Project Areas.
Enforceable Contractual Obligations
As part of AB 26 x1, any redevelopment agency that is dissolved as part of the legislation will be
replaced by a Successor Agency that will be responsible for continuing to make payments on all
Enforceable Obligations of the former redevelopment agency including bond debt service and
legally binding/enforceable contracts with third-parties. Many of these enforceable obligations such
as pass-throughs and negotiated tax sharing agreements were forecasted as part of the underlying tax
increment revenue projections. Agency staff then provided a list of project related enforceable
obligations entered into with third-parties.
Additionally, Agency staff provided a list of “Budget Appropriations” relating to project costs the
Agency anticipates funding in Fiscal Year 2011-12, but would be unable to fulfill if the decision is
made to Opt-Out. As such these “Budget Appropriations” are only included in model scenarios
where the Agency intends to Opt-In. This data was then incorporated into the financial model to
help determine the amount of tax increment that would flow back to the Agency under an Opt-In
decision or County General Fund under an Opt-Out decision.
Agency Bond Debt Service
The Agency’s Debt Reduction Plan relates to the use of unspent bond proceeds to either fund
current projects or reduce the Agency’s outstanding indebtedness. It is anticipated that Agency will
spend $10.3 million on ongoing projects and $23.3 million will be used to remove outstanding
indebtedness. The projected impact of the $23.3 million of debt reductions has been incorporated,
by project area, into the bond debt service calculations used in both the Opt-In and Opt-Out
scenarios.
Financial Model Cover Memorandum
September 1, 2011
Page 6
Distribution of Pass-Through Payments and Net TI to Taxing Entities and AB26 x1
One of the key aspects of the Agency’s operations tracked by this model is the distribution of tax
increment revenue to related County tax-sharing entities through the payment of various forms of
pass-through payments or in the case of an “Opt-Out” decision, the distribution of net TI revenue
that formerly went to the Agency. There are a total of 41 related County tax-sharing entities that
receive a portion of the TI revenue allocated to the Agency and these tax-sharing entities can
generally be divided into special districts and school districts. Additionally the County General Fund
receives a significant portion of the TI revenue generated in each project area.
Due to conflicting provisions in AB26 x1, there are two possible methodologies that can be used to
calculate the amount of revenue retained by the various tax-sharing entities under an Opt-Out
decision. One provision (Section 34183) indicates that all pass-through must be made before the
balance is distributed to the relevant taxing entities, whereas another provision (Section 34188)
indicates pass-through should be ignored when calculating the balance available for distribution.
These differing methodologies create a significant difference in the distribution of tax increment
funds that flow back to the tax-sharing entities and therefore Opt-Out scenarios are run according
to both methodologies.
Attachment A contains a detailed breakdown of the percentage shares used to allocate certain pass-
through payments and net tax increment revenue (in an “Opt-Out” scenario) to the various tax-
sharing entities. These percentages were used for all pass-through payments and net tax increment
except for negotiated tax sharing agreement pass-through payments in the Contra Costa Centre, Bay
Point and Rodeo Project Areas which were calculated based on separate percentages provided by
the Agency’s Fiscal Consultant and Continuation Payments (in an “Opt-In” scenario) which were
calculated based on the methodology outlined in AB x1 27.
MODEL SCENARIOS
Based on discussions with Agency staff we have prepared the following three scenarios that will help
the Agency to evaluate the Opt-In/Opt-Out decision given the alternative interpretations of AB26
x1 under an Opt-Out decision:
Contra Costa RDA Financial Model Scenarios
Scenario Opt-In/Opt-Out AB x1 26 Methodology
1 Opt-In N/A
2 Opt-Out Section 34183
3 Opt-Out Section 34188
Scenario 1 is designed to evaluate the financial position of the Agency and its project areas assuming
the Continuation Payments under AB 27 x1 are made. Scenarios 2 and 3 are designed to evaluate
the impact of the Opt-Out decision under the two alternative interpretations of AB 26 x1.
MODEL STRUCTURE AND RESULTS
With the assumptions outlined above PFM then constructed cash flows for each project area under
the scenarios described in the previous section. These results were first examined on a project area
basis in order to evaluate the financial viability of each project area under all scenarios. Attachments
Financial Model Cover Memorandum
September 1, 2011
Page 7
B - D contain the detailed analysis that was performed for each project area under each scenario. Of
particular note to the Agency is the near-term financial challenge facing the Bay Point Project Area.
Bay Point has several years of negative annual cash flows in Scenario 1 and 2 (Scenario 3 ignores
pass through payments and therefore has a positive cash flow) and reaches a cumulative deficit of
$2.12 million in Scenario 1 and $667,000 in Scenario 2. Additionally, while Montalvin Manor
maintains positive annual cash flows in all scenarios it relies on fund balance to stay positive in
Scenario 1 and net tax increment revenue for distribution falls as low as $30,341 in Scenario 2 and
$54,976 in Scenario 3.
Project area cash flows for each scenario were then aggregated to produce an Agency-wide analysis.
In order to help the Agency evaluate the Opt-In/Opt-Out decision we compared the net tax
increment revenue that would be available to the Agency to spend on projects under Scenario 1 to
the amount of tax increment revenue that would be distributed to the County General Fund under
Scenarios 2 and 3. As the summary table below illustrates the Agency retains far more funds by
Opting-In than the County would if the Agency were dissolved no matter how the revenue
distribution provisions in AB 26 x1 are interpreted. Conversely, the tax-sharing entities would retain
far more funds under the Opt-Out decision no matter how AB 26 x1 is interpreted.
Contra Costa County RDA
Financial Model Summary Table
Scenario 1 Scenario 2 Scenario 3
Opt-In Opt-Out (34183) Opt-Out (34188)
Gross Revenue for Redevelopment Project
Areas or County General Fund $231,789,425 $110,920,741 $115,466,713
PV of Gross Revenue for Redevelopment
Project Areas or County General Fund $129,065,790 $65,487,614 $67,826,196
Payments to Special Districts and Schools $205,575,025 $313,258,849 $303,507,866
PV of Payments to Special Districts and
Schools $104,580,310 $160,931,725 $155,768,322
The aggregate revenue available to the Agency or County as well as aggregate payments made to the
taxing entities under each scenario is illustrated in the summary table contained in Attachment E.
We have also attempted to provide detailed allocations of the pass-through payments to the various
related County tax-sharing entities. As mentioned above the tax-sharing entities receive the largest
benefit from the dissolution of the Agency and redistribution of tax increment revenue, but the
extent to which particular entities will benefit depends on which interpretation of AB x1 26 is used
in the projections. As the table below demonstrates under Section 34183 the County’s special
districts retain a higher proportion of the pass-throughs and net tax increment when compared to
projections using the methodology Section 341888 where the County General Fund and related
school districts receive a higher benefit.
Financial Model Cover Memorandum
September 1, 2011
Page 8
Contra Costa County RDA - Distribution of Pass-Throughs and Net TI
County
General Fund
Special
Districts Schools
Gross TI Received Base Case - (2012 - 2036) $18,525,529 $74,650,535 $107,138,836
Gross TI Received Opt-Out (34183) - (2012 - 2036) $52,924,717 $135,142,285 $178,116,565
Difference to Base Case - (2012 - 2036) $34,399,188 $60,491,749 $70,977,728
Gross TI Received Opt-Out (34188) - (2012 - 2036) $57,465,597 $116,618,637 $186,894,320
Difference to Base Case - (2012 - 2036) $38,940,068 $41,968,102 $79,755,483
Gross TI Received Base Case - First 5 years $1,657,835 $8,207,238 $15,491,452
Gross TI Received Opt-Out (34183) - First 5 years $7,109,968 $18,505,134 $23,528,796
Difference to Base Case - First 5 years $5,452,133 $10,297,896 $8,037,344
Gross TI Received Opt-Out (34188) - First 5 years $7,662,955 $15,939,183 $24,499,602
Difference to Base Case - First 5 years $6,005,120 $7,731,945 $9,008,150
Attachment F provides detailed estimates of the total amount of revenue each of the Agency’s 41
tax-sharing entities would receive under each scenario.
$0
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
$140,000,000
$160,000,000
$180,000,000
$200,000,000
Opt‐In
(2012 ‐2036)
Opt‐Out (34183)
(2012 ‐2036)
Opt‐Out (34188)
(2012 ‐2036)
Opt‐In
(2012 ‐2016)
Opt‐Out (34183)
(2012 ‐2016)
Opt‐Out (34188)
(2012 ‐2016)
Distribution of Pass‐Throughs and Net TI to Tax ‐Sharing Entities
(Gross $)
County General Fund Special Districts Schools
Contra Costa County RDA Financial Model - Attachment A
Distribution of Pass-Through Payments to Tax-Sharing Entities
Contra Costa
Centre
North
Richmond Bay Point Rodeo
Montalvin
Manor
County General Fund 16.41% 14.83% 14.26% 17.35% 14.11%
County Library District 1.61% 1.52% 1.46% 1.78% 1.45%
County Fire Protection District 13.60% 21.02% 15.13% 0.00% 21.59%
S/A L100 0.04% 0.43% 1.45% 2.64% 1.85%
CSA M 17 0.00% 0.00% 0.00% 0.00% 3.01%
County Flood Control 0.19% 0.18% 0.17% 0.21% 0.17%
County Flood Control Z3B 0.76% 0.60% 0.00% 0.24% 0.00%
County Flood Control Z8A 0.00% 0.00% 0.00% 0.38% 0.00%
S/A P6 1.20% 1.20% 1.21% 1.20% 1.21%
Rodeo Hercules fire 0.00% 0.00% 0.00% 12.55% 0.00%
County Water Agency 0.04% 0.04% 0.03% 0.04% 0.03%
County Resource Conservation 0.02% 0.01% 0.02% 0.00% 0.00%
Mosquito Abatement 0.17% 0.16% 0.15% 0.19% 0.15%
Rodeo Sanitation 0.00% 0.00% 0.00% 5.73% 0.00%
Central Sanitation 2.09% 0.00% 0.00% 0.00% 0.00%
West Sanitation 0.00% 1.43% 0.00% 0.00% 1.93%
Delta Diablo Z1 Z2 0.00% 0.00% 6.85% 0.00% 0.00%
Los Medanos Hospital 0.00% 0.00% 1.83% 0.00% 0.00%
Mount Diablo Hospital 0.10% 0.00% 0.00% 0.00% 0.00%
West County Hospital 0.00% 1.55% 0.00% 1.82% 1.48%
Alamo Cemetery 0.02% 0.00% 0.00% 0.00% 0.00%
Ambrose Rec 0.00% 0.00% 5.69% 0.00% 0.00%
Pleasant Hill Recreation 3.28% 0.00% 0.00% 0.00% 0.00%
County Water 0.51% 0.00% 0.46% 0.00% 0.00%
EBMUD 0.00% 1.52% 0.00% 1.79% 1.46%
AC Transit 0.00% 5.62% 0.00% 0.00% 0.00%
BART 0.68% 0.64% 0.62% 0.75% 0.61%
Bay Area Air Mgmt 0.20% 0.19% 0.18% 0.22% 0.18%
E Bay Regional Park 3.24% 3.05% 2.95% 3.58% 2.92%
Walnut Creek Service Area 0.13% 0.00% 0.00% 0.00% 0.00%
Acalanes Union High 6.54% 0.00% 0.00% 0.00% 0.00%
Canyon Elementary 0.01% 0.00% 0.00% 0.00% 0.00%
Lafayette Elementary 1.01% 0.00% 0.00% 0.00% 0.00%
Moraga Elementary 0.63% 0.00% 0.00% 0.00% 0.00%
Orinda Elementary 0.77% 0.00% 0.00% 0.00% 0.00%
WC Elementary 5.34% 0.00% 0.00% 0.00% 0.00%
County Superintendent 1.47% 1.34% 0.98% 2.25% 1.28%
K-12 ERAF 15.17% 5.59% 10.52% 18.80% 8.79%
J Swett General 0.00% 0.00% 0.00% 20.18% 0.00%
West Contra Costa Unified 0.00% 33.55% 0.00% 0.00% 32.00%
Mt Diablo 17.51% 0.00% 28.63% 0.00% 0.00%
Pitt Unified 0.00% 0.00% 1.33% 0.00% 0.00%
Comm College 5.01% 4.68% 4.51% 5.49% 4.47%
Comm College ERAF 2.26% 0.83% 1.57% 2.80% 1.31%
Summary of Pass-Through Allocation:
County 16.41% 14.83% 14.26% 17.35% 14.11%
Special Districts 27.87% 39.17% 38.20% 33.14% 38.04%
Schools 55.72% 46.00% 47.55% 49.52% 47.85%
Rodeo Project Area - Opt-In ScenarioFund Balance SummaryAttachment B (1 of 5)Beginning Balance - Capital 822,950Beginning Balance - Housing 1,874,065Capital Other Funds on Hand 519,371Housing Other Funds on Hand 697,716Fiscal YearCapital Beginning Fund BalanceGross Tax IncrementProperty Tax Admin Charge33676 PaymentsAB 1290 Pass-ThroughsNegotiated Tax Sharing AgreementsHousing Set-AsideNet Tax IncrementBond Debt ServiceAB x1 27 PaymentContractual Payment ObligationsBudget AppropriationsNet TI Revenue for ProjectsCapital Ending Fund Balance2012 1,342,321 1,731,420 $16,275 $174,259 $0 $353,902 $311,432 $875,551 $371,311 $406,000 $66,772 $765,000($733,531)$608,7902013 608,790 1,782,006 $16,751 $186,475 $0 $364,618 $319,106 $895,056 $370,704 $107,018 $0 $0 $417,334 $1,026,1242014 1,026,124 1,905,054 $17,908 $198,935 $20,398 $389,855 $341,224 $936,735 $372,069 $113,365 $0 $0 $451,302 $1,477,4262015 1,477,426 2,030,162 $19,084 $211,644 $41,204 $415,596 $363,704 $978,931 $370,098 $119,816 $0 $0 $489,017 $1,966,4432016 1,966,443 2,158,992 $20,295 $224,607 $21,222 $441,852 $386,877 $1,064,140 $371,007 $124,843 $0 $0 $568,290 $2,534,7332017 2,534,733 2,292,612 $21,551 $237,829 $42,869 $468,633 $410,957 $1,110,774 $368,582 $132,285 $0 $0 $609,908 $3,144,6412018 3,144,641 2,428,905 $22,832 $251,316 $64,948 $495,950 $435,518 $1,158,342 $369,036 $144,225 $0 $0 $645,080 $3,789,7212019 3,789,721 2,496,546 $23,468 $265,073 $75,906 $509,507 $446,295 $1,176,299 $372,220 $147,758 $0 $0 $656,320 $4,446,0412020 4,446,041 2,565,540 $24,116 $279,104 $87,083 $523,335 $457,287 $1,194,614 $371,917 $151,466 $0 $0 $671,232 $5,117,2732021 5,117,273 2,635,914 $24,778 $293,417 $98,483 $537,440 $468,499 $1,213,297 $371,311 $155,204 $0 $0 $686,782 $5,804,0552022 5,804,055 2,707,695 $25,452 $308,015 $110,112 $551,827 $479,936 $1,232,352 $373,433 $158,868 $0 $0 $700,051 $6,504,1052023 6,504,105 2,780,911 $26,141 $322,906 $121,973 $566,501 $491,601 $1,251,789 $369,036 $162,594 $0 $0 $720,159 $7,224,2652024 7,224,265 2,855,592 $26,843 $338,094 $134,071 $581,469 $503,500 $1,271,615 $373,585 $166,393 $0 $0 $731,637 $7,955,9022025 7,955,902 2,931,767 $27,559 $353,587 $146,412 $596,737 $515,636 $1,291,837 $371,462 $170,268 $0 $0 $750,107 $8,706,0092026 8,706,009 3,009,465 $28,289 $369,389 $158,999 $612,310 $528,015 $1,312,464 $372,069 $174,206 $0 $0 $766,189 $9,472,1982027 9,472,198 3,088,717 $29,034 $385,507 $182,622 $628,194 $540,642 $1,322,718 $369,188 $178,241 $0 $0 $775,290 $10,247,4872028 10,247,487 3,169,554 $29,794 $401,947 $206,718 $644,396 $553,521 $1,333,178 $372,069 $182,356 $0 $0 $778,753 $11,026,2402029 11,026,240 3,252,008 $30,569 $418,716 $231,296 $660,922 $566,658 $1,343,847 $465,313 $186,554 $0 $0 $691,979 $11,718,2202030 11,718,220 3,336,111 $31,359 $435,821 $256,365 $677,778 $580,058 $1,354,729 $465,465 $190,836 $0 $0 $698,428 $12,416,6472031 12,416,647 3,421,896 $32,166 $453,268 $281,936 $694,972 $593,726 $1,365,829 $464,858 $195,204 $0 $0 $705,767 $13,122,4142032 13,122,414 3,509,397 $32,988 $471,063 $308,018 $712,509 $607,667 $1,377,151 $463,494 $199,658 $0 $0 $713,998 $13,836,4122033 13,836,412 3,598,647 $33,827 $489,215 $334,622 $730,398 $621,887 $1,388,699 $464,404 $204,202 $0 $0 $720,093 $14,556,5052034 14,556,505 3,689,683 $34,683 $507,729 $361,758 $748,644 $636,391 $1,400,478 $464,404 $208,837 $0 $0 $727,237 $15,283,7432035 15,283,743 3,782,540 $35,556 $526,614 $389,437 $767,255 $651,185 $1,412,493 $463,494 $213,565 $0 $0 $735,434 $16,019,1772036 16,019,177 3,877,253 $36,446 $545,877 $417,669 $786,238 $666,275 $1,424,748 $464,707 $218,387 $0 $0 $741,654 $16,760,831Rodeo Housing FundFiscal YearHousing Beginning Fund BalanceHousing Set-AsideBond Debt ServiceContractual Payment ObligationsBudget AppropriationsRemainder for ProjectsHousing Ending Fund Balance2012 $2,571,781 $311,432 $270,618 $0 $2,552,297($2,511,483)$60,2982013 $60,298 $319,106 $267,809 $0 $0 $51,297 $111,5952014 $111,595 $341,224 $269,851 $0 $0 $71,373 $182,9682015 $182,968 $363,704 $266,643 $0 $0 $97,061 $280,0292016 $280,029 $386,877 $268,408 $0 $0 $118,469 $398,4982017 $398,498 $410,957 $269,898 $0 $0 $141,059 $539,5572018 $539,557 $435,518 $266,137 $0 $0 $169,381 $708,9382019 $708,938 $446,295 $272,132 $0 $0 $174,163 $883,1012020 $883,101 $457,287 $267,525 $0 $0 $189,762 $1,072,8632021 $1,072,863 $468,499 $267,918 $0 $0 $200,581 $1,273,4442022 $1,273,444 $479,936 $273,062 $0 $0 $206,874 $1,480,3182023 $1,480,318 $491,601 $267,604 $0 $0 $223,997 $1,704,3152024 $1,704,315 $503,500 $267,146 $0 $0 $236,353 $1,940,6682025 $1,940,668 $515,636 $271,439 $0 $0 $244,197 $2,184,8662026 $2,184,866 $528,015 $270,130 $0 $0 $257,885 $2,442,7512027 $2,442,751 $540,642 $273,521 $0 $0 $267,122 $2,709,8732028 $2,709,873 $553,521 $271,310 $0 $0 $282,211 $2,992,0842029 $2,992,084 $566,658 $338,799 $0 $0 $227,859 $3,219,9432030 $3,219,943 $580,058 $337,386 $0 $0 $242,672 $3,462,6152031 $3,462,615 $593,726 $335,423 $0 $0 $258,302 $3,720,9172032 $3,720,917 $607,667 $337,910 $0 $0 $269,757 $3,990,6742033 $3,990,674 $621,887 $339,545 $0 $0 $282,342 $4,273,0162034 $4,273,016 $636,391 $335,329 $0 $0 $301,062 $4,574,0782035 $4,574,078 $651,185 $339,400 $0 $0 $311,786 $4,885,8642036 $4,885,864 $666,275 $337,268 $0 $0 $329,007 $5,214,871
Contra Costa Centre - Opt-In ScenarioFund Balance SummaryAttachment B (2 of 5)Beginning Balance - Capital 4,449,480Beginning Balance - Housing 241,101Capital Other Funds on Hand 161,794Housing Other Funds on Hand23,423Fiscal YearCapital Beginning Fund BalanceGross Tax IncrementProperty Tax Admin Charge33676 PaymentsAB 1290 Pass-ThroughsNegotiated Tax Sharing AgreementsHousing Set-AsideNet Tax IncrementBond Debt ServiceAB x1 27 PaymentContractual Payment ObligationsBudget AppropriationsNet TI Revenue for ProjectsCapital Ending Fund Balance2012 4,611,274 8,905,977 $87,896 $150,509 $582,379 $120,951 $1,751,094 $6,213,148 $3,738,925 $3,289,576 $2,807,338 $988,583($4,611,274)$02013 0 9,230,798 $91,102 $157,553 $654,300 $123,430 $1,814,649 $6,389,765 $3,730,810 $867,103 $500,000 $1,291,852 $0 $02014 0 9,626,210 $95,004 $165,279 $736,825 $125,958 $1,892,186 $6,610,959 $3,735,143 $918,525 $500,000 $1,457,291 $0 $02015 0 10,027,949 $98,969 $173,160 $820,999 $128,536 $1,970,958 $6,835,326 $3,736,043 $970,800 $500,000 $0 $1,628,484 $1,628,4842016 1,628,484 10,212,368 $100,789 $181,199 $891,701 $131,166 $2,006,234 $6,901,279 $3,734,018 $1,011,525 $500,000 $0 $1,655,736 $3,284,2212017 3,284,221 10,725,662 $105,855 $189,399 $1,078,541 $133,848 $2,107,253 $7,110,767 $3,768,841 $1,071,828 $765,406 $0 $1,504,692 $4,788,9132018 4,788,913 11,877,111 $117,219 $197,762 $1,498,565 $136,585 $2,335,870 $7,591,110 $3,767,860 $1,168,569 $765,406 $0 $1,889,275 $6,678,1872019 6,678,187 12,116,324 $119,580 $206,293 $1,582,818 $139,376 $2,382,006 $7,686,252 $3,768,473 $1,197,195 $765,406 $0 $1,955,179 $8,633,3662020 8,633,366 12,360,309 $121,988 $214,994 $1,671,727 $142,222 $2,429,063 $7,780,315 $3,764,729 $1,227,236 $765,406 $0 $2,022,944 $10,656,3102021 10,656,310 12,605,987 $124,412 $223,870 $1,762,414 $145,126 $2,476,423 $7,873,742 $3,766,024 $1,257,524 $765,406 $0 $2,084,788 $12,741,0982022 12,741,098 12,860,362 $126,923 $232,923 $1,854,915 $148,088 $2,525,488 $7,972,026 $3,767,986 $1,287,217 $765,406 $0 $2,151,417 $14,892,5152023 14,892,515 13,119,824 $129,483 $242,157 $1,949,265 $151,109 $2,575,533 $8,072,276 $3,767,211 $1,317,398 $765,406 $0 $2,222,261 $17,114,7762024 17,114,776 13,384,475 $132,095 $251,575 $2,045,503 $154,190 $2,626,580 $8,174,531 $3,771,276 $1,348,183 $765,406 $0 $2,289,667 $19,404,4432025 19,404,443 13,654,420 $134,760 $261,182 $2,143,666 $157,333 $2,678,647 $8,278,832 $3,764,974 $1,379,582 $765,406 $0 $2,368,870 $21,773,3132026 21,773,313 13,929,763 $137,477 $270,982 $2,243,791 $160,539 $2,731,756 $8,385,218 $3,768,554 $1,411,486 $765,406 $0 $2,439,772 $24,213,0852027 24,213,085 14,210,613 $140,249 $280,977 $2,345,920 $163,809 $2,785,927 $8,493,732 $3,766,211 $1,444,179 $765,406 $0 $2,517,936 $26,731,0212028 26,731,021 14,497,081 $143,076 $291,172 $2,450,090 $167,144 $2,841,182 $8,604,416 $3,767,964 $1,477,525 $765,406 $0 $2,593,522 $29,324,5432029 29,324,543 14,789,277 $145,960 $301,571 $2,556,345 $170,547 $2,897,541 $8,717,314 $3,768,281 $1,511,538 $765,406 $0 $2,672,089 $31,996,6322030 31,996,632 15,087,318 $148,901 $312,178 $2,664,724 $174,017 $2,955,028 $8,832,470 $3,766,406 $1,546,231 $765,406 $0 $2,754,427 $34,751,0582031 34,751,058 15,391,319 $151,902 $322,997 $2,775,271 $177,556 $3,013,664 $8,949,929 $3,767,563 $1,581,618 $765,406 $0 $2,835,342 $37,586,4012032 37,586,401 15,701,400 $154,962 $334,032 $2,888,029 $181,167 $3,073,474 $9,069,737 $3,766,219 $1,617,713 $818,487 $0 $2,867,318 $40,453,7192033 40,453,719 16,017,683 $158,083 $345,289 $3,003,042 $184,849 $3,134,479 $9,191,941 $3,767,125 $1,654,530 $818,487 $0 $2,951,800 $43,405,5182034 43,405,518 16,340,292 $161,267 $356,770 $3,120,355 $188,605 $3,196,704 $9,316,590 $3,764,750 $1,692,083 $818,487 $0 $3,041,270 $46,446,7882035 46,446,788 16,669,352 $164,515 $368,481 $3,240,014 $192,437 $3,260,174 $9,443,731 $3,759,000 $1,730,387 $818,487 $0 $3,135,857 $49,582,6452036 49,582,64517,004,994$167,827$380,426$3,362,067$196,345$3,324,914$9,573,416$0 $1,769,457$818,487$0 $6,985,471 $56,568,116203649,582,64517,004,994$167,827$380,426$3,362,067$196,345$3,324,914$9,573,416$0$1,769,457$818,487$0$6,985,471$56,568,116Contra Costa Centre Housing FundFiscal YearHousing Beginning Fund BalanceHousing Set-AsideBond Debt ServiceContractual Payment ObligationsBudget AppropriationsRemainder for ProjectsHousing Ending Fund Balance2012 $264,524 $1,751,094 $0 $1,473,380 $542,237($264,524)$02013 $0 $1,814,649 $0 $1,413,380 $401,269 $0 $02014 $0 $1,892,186 $0 $1,413,380 $478,806 $0 $02015 $0 $1,970,958 $0 $1,453,900 $517,058 $0 $02016 $0 $2,006,234 $0 $1,494,420 $426,328 $85,486 $85,4862017 $85,486 $2,107,253 $0 $1,496,041 $611,212 $696,6982018 $696,698 $2,335,870 $0 $947,694 $1,388,176 $2,084,8742019 $2,084,874 $2,382,006 $0 $949,380 $1,432,626 $3,517,5002020 $3,517,500 $2,429,063 $0 $951,100 $1,477,963 $4,995,4622021 $4,995,462 $2,476,423 $0 $952,855 $1,523,569 $6,519,0312022 $6,519,031 $2,525,488 $0 $954,644 $1,570,844 $8,089,8752023 $8,089,875 $2,575,533 $0 $956,469 $1,619,064 $9,708,9392024 $9,708,939 $2,626,580 $0 $958,331 $1,668,249 $11,377,1882025 $11,377,188 $2,678,647 $0 $960,230 $1,718,417 $13,095,6052026 $13,095,605 $2,731,756 $0 $962,167 $1,769,589 $14,865,1942027 $14,865,194 $2,785,927 $0 $964,143 $1,821,784 $16,686,9782028 $16,686,978 $2,841,182 $0 $966,158 $1,875,023 $18,562,0012029 $18,562,001 $2,897,541 $0 $968,214 $1,929,327 $20,491,3292030 $20,491,329 $2,955,028 $0 $970,311 $1,984,717 $22,476,0462031 $22,476,046 $3,013,664 $0 $972,449 $2,041,215 $24,517,2612032 $24,517,261 $3,073,474 $0 $874,631 $2,198,843 $26,716,1042033 $26,716,104 $3,134,479 $0 $876,856 $2,257,623 $28,973,7282034 $28,973,728 $3,196,704 $0 $879,125 $2,317,579 $31,291,3072035 $31,291,307 $3,260,174 $0 $881,440 $2,378,734 $33,670,0412036 $33,670,041 $3,324,914$0 $883,801 $2,441,113$36,111,154
Montalvin Manor - Opt-In ScenarioFund Balance SummaryAttachment B (3 of 5)Beginning Balance - Capital 302,605Beginning Balance - Housing 121,285Capital Other Funds on Hand 75,371Housing Other Funds on Hand29,857Fiscal YearCapital Beginning Fund BalanceGross Tax IncrementProperty Tax Admin Charge33676 PaymentsAB 1290 Pass-ThroughsNegotiated Tax Sharing AgreementsHousing Set-AsideNet Tax IncrementBond Debt ServiceAB x1 27 PaymentContractual Payment ObligationsBudget AppropriationsNet TI Revenue for ProjectsCapital Ending Fund Balance2012 377,976 128,135 $1,259 $0 $21,988 $0 $25,627 $79,261 $85,145 $0 $0 $102,937($108,820)$269,1552013 269,155 148,000 $1,454 $0 $25,397 $0 $29,600 $91,550 $87,175 $0 $0 $0 $4,375 $273,5312014 273,531 183,383 $1,801 $0 $31,468 $0 $36,677 $113,437 $85,831 $0 $0 $0 $27,605 $301,1362015 301,136 219,445 $2,155 $0 $37,657 $0 $43,889 $135,744 $87,473 $0 $0 $0 $48,270 $349,4062016 349,406 256,202 $2,516 $0 $43,964 $0 $51,240 $158,481 $85,981 $0 $0 $0 $72,500 $421,9072017 421,907 293,671 $2,884 $0 $44,913 $0 $58,734 $187,139 $84,488 $0 $0 $0 $102,651 $524,5582018 524,558 331,866 $3,260 $0 $56,948 $0 $66,373 $205,285 $85,981 $0 $0 $0 $119,304 $643,8622019 643,862 370,804 $3,642 $0 $69,221 $0 $74,161 $223,781 $87,324 $0 $0 $0 $136,457 $780,3192020 780,319 425,599 $4,180 $0 $86,487 $0 $85,120 $249,812 $85,533 $0 $0 $0 $164,279 $944,5982021 944,598 478,369 $4,699 $0 $103,564 $0 $95,674 $274,433 $86,727 $0 $0 $0 $187,706 $1,132,3042022 1,132,304 505,138 $4,961 $0 $112,016 $0 $101,028 $287,133 $84,786 $0 $0 $0 $202,347 $1,334,6512023 1,334,651 532,442 $5,230 $0 $120,637 $0 $106,488 $300,087 $85,831 $0 $0 $0 $214,256 $1,548,9062024 1,548,906 560,293 $5,503 $0 $129,431 $0 $112,059 $313,300 $83,742 $0 $0 $0 $229,559 $1,778,4652025 1,778,465 588,700 $5,782 $0 $138,400 $0 $117,740 $326,778 $84,637 $0 $0 $0 $242,140 $2,020,6062026 2,020,606 617,675 $6,067 $0 $147,549 $0 $123,535 $340,525 $85,383 $0 $0 $0 $255,141 $2,275,7472027 2,275,747 647,230 $6,357 $0 $156,881 $0 $129,446 $354,546 $85,981 $0 $0 $0 $268,566 $2,544,3122028 2,544,312 677,376 $6,653 $0 $166,399 $0 $135,475 $368,849 $86,428 $0 $0 $0 $282,420 $2,826,7332029 2,826,733 708,126 $6,955 $0 $176,108 $0 $141,625 $383,437 $83,742 $0 $0 $0 $299,696 $3,126,4292030 3,126,429 739,490 $7,263 $0 $186,011 $0 $147,898 $398,317 $84,040 $0 $0 $0 $314,277 $3,440,7062031 3,440,706 771,481 $7,578 $0 $196,112 $0 $154,296 $413,495 $84,189 $0 $0 $0 $329,306 $3,770,0122032 3,770,012 804,112 $7,898 $0 $206,415 $0 $160,822 $428,976 $84,189 $0 $0 $0 $344,787 $4,114,7992033 4,114,799 837,396 $8,225 $0 $216,924 $0 $167,479 $444,767 $84,040 $0 $0 $0 $360,727 $4,475,5262034 4,475,526 871,345 $8,558 $0 $227,644 $0 $174,269 $460,874 $83,742 $0 $0 $0 $377,133 $4,852,6592035 4,852,659 905,974 $8,899 $0 $238,577 $0 $181,195 $477,303 $86,279 $0 $0 $0 $391,024 $5,243,6822036 5,243,682941,294 $9,245 $0 $249,730$0 $188,259$494,060$85,533$0 $0 $0 $408,528$5,652,21020365,243,682941,294$9,245$0$249,730$0$188,259$494,060$85,533$0$0$0$408,528$5,652,210Montalvin Manor Housing FundFiscal YearHousing Beginning Fund BalanceHousing Set-AsideBond Debt ServiceContractual Payment ObligationsBudget AppropriationsRemainder for ProjectsHousing Ending Fund Balance2012 $151,142 $25,627 $0 $0 $159,579($133,952)$17,1902013 $17,190 $29,600 $0 $0 $0 $29,600 $46,7902014 $46,790 $36,677 $0 $0 $0 $36,677 $83,4672015 $83,467 $43,889 $0 $0 $0 $43,889 $127,3562016 $127,356 $51,240 $0 $0 $0 $51,240 $178,5962017 $178,596 $58,734 $0 $0 $0 $58,734 $237,3302018 $237,330 $66,373 $0 $0 $0 $66,373 $303,7042019 $303,704 $74,161 $0 $0 $0 $74,161 $377,8642020 $377,864 $85,120 $0 $0 $0 $85,120 $462,9842021 $462,984 $95,674 $0 $0 $0 $95,674 $558,6582022 $558,658 $101,028 $0 $0 $0 $101,028 $659,6862023 $659,686 $106,488 $0 $0 $0 $106,488 $766,1742024 $766,174 $112,059 $0 $0 $0 $112,059 $878,2332025 $878,233 $117,740 $0 $0 $0 $117,740 $995,9732026 $995,973 $123,535 $0 $0 $0 $123,535 $1,119,5082027 $1,119,508 $129,446 $0 $0 $0 $129,446 $1,248,9542028 $1,248,954 $135,475 $0 $0 $0 $135,475 $1,384,4292029 $1,384,429 $141,625 $0 $0 $0 $141,625 $1,526,0542030 $1,526,054 $147,898 $0 $0 $0 $147,898 $1,673,9522031 $1,673,952 $154,296 $0 $0 $0 $154,296 $1,828,2482032 $1,828,248 $160,822 $0 $0 $0 $160,822 $1,989,0712033 $1,989,071 $167,479 $0 $0 $0 $167,479 $2,156,5502034 $2,156,550 $174,269 $0 $0 $0 $174,269 $2,330,8192035 $2,330,819 $181,195 $0 $0 $0 $181,195 $2,512,0132036 $2,512,013$188,259$0 $0 $0 $188,259$2,700,272
Bay Point - Opt-In ScenarioFund Balance SummaryAttachment B (4 of 5)Beginning Balance - Capital 164,213Beginning Balance - Housing 888,943Capital Other Funds on Hand 982,500Housing Other Funds on Hand574,500Fiscal YearCapital Beginning Fund BalanceGross Tax IncrementProperty Tax Admin Charge33676 PaymentsAB 1290 Pass-ThroughsNegotiated Tax Sharing AgreementsHousing Set-AsideNet Tax IncrementBond Debt ServiceAB x1 27 PaymentContractual Payment ObligationsBudget AppropriationsNet TI Revenue for ProjectsCapital Ending Fund Balance2012 1,146,713 2,224,696 $18,554 $616,474 $0 $328,726 $321,644 $939,297 $1,654,988 $0 $0 $252,226($967,917)$178,7962013 178,796 2,298,209 $19,171 $654,174 $0 $340,294 $328,807 $955,763 $1,657,020 $0 $0 $0($701,257) ($522,461)2014(522,461)2,539,986 $21,200 $692,627 $0 $377,062 $369,472 $1,079,624 $1,649,815 $0 $0 $0($570,191) ($1,092,652)2015(1,092,652)2,785,809 $23,263 $731,850 $0 $414,567 $410,792 $1,205,337 $1,651,646 $0 $0 $0($446,308) ($1,538,960)2016(1,538,960)3,036,406 $25,366 $771,857 $0 $452,821 $452,910 $1,333,453 $1,659,774 $0 $0 $0($326,322) ($1,865,282)2017(1,865,282)3,296,245 $27,546 $812,664 $0 $491,840 $496,716 $1,467,478 $1,654,936 $0 $0 $0($187,458) ($2,052,740)2018(2,052,740)3,561,265 $29,770 $854,288 $0 $531,639 $541,396 $1,604,173 $1,651,698 $0 $0 $0($47,526) ($2,100,266)2019(2,100,266)3,665,106 $30,642 $896,743 $0 $547,265 $553,673 $1,636,783 $1,655,810 $0 $0 $0($19,026) ($2,119,292)2020(2,119,292)3,771,009 $31,530 $940,048 $0 $563,204 $566,192 $1,670,034 $1,663,647 $0 $0 $0 $6,387($2,112,905)2021(2,112,905)3,879,012 $32,437 $984,219 $15,477 $579,461 $578,959 $1,688,460 $1,658,100 $0 $0 $0 $30,360($2,082,544)2022(2,082,544)3,991,030 $33,376 $1,029,274 $15,786 $596,044 $592,351 $1,724,198 $1,694,672 $0 $0 $0 $29,526($2,053,018)2023(2,053,018)4,103,416 $34,320 $1,075,229 $31,889 $612,958 $605,637 $1,743,383 $1,695,732 $0 $0 $0 $47,651($2,005,367)2024(2,005,367)4,218,033 $35,281 $1,122,104 $48,313 $630,210 $619,186 $1,762,939 $1,694,666 $0 $0 $0 $68,272($1,937,095)2025(1,937,095)4,334,924 $36,262 $1,169,916 $65,066 $647,807 $633,002 $1,782,871 $1,692,660 $0 $0 $0 $90,212($1,846,883)2026(1,846,883)4,451,976 $37,245 $1,218,685 $82,153 $665,757 $646,658 $1,801,479 $1,692,895 $0 $0 $0 $108,583($1,738,300)2027(1,738,300)4,574,032 $38,269 $1,268,428 $99,583 $684,065 $661,121 $1,822,566 $1,691,651 $0 $0 $0 $130,915($1,607,385)2028(1,607,385)4,698,528 $39,313 $1,319,167 $117,361 $702,740 $675,872 $1,844,075 $1,688,498 $0 $0 $0 $155,577($1,451,808)2029(1,451,808)4,825,515 $40,379 $1,370,920 $135,495 $721,788 $690,919 $1,866,014 $1,727,341 $0 $0 $0 $138,673($1,313,135)2030(1,313,135)4,955,041 $41,466 $1,423,709 $153,991 $741,216 $706,266 $1,888,392 $1,729,012 $0 $0 $0 $159,381($1,153,754)2031(1,153,754)5,087,158 $42,575 $1,477,553 $172,857 $761,034 $721,921 $1,911,218 $1,727,397 $0 $0 $0 $183,821($969,933)2032(969,933)5,221,917 $43,705 $1,532,474 $192,101 $781,248 $737,889 $1,934,500 $1,730,197 $0 $0 $0 $204,303($765,630)2033(765,630)5,359,371 $44,859 $1,588,494 $211,729 $801,866 $754,175 $1,958,248 $1,730,524 $0 $0 $0 $227,724($537,906)2034(537,906)5,499,575 $46,035 $1,645,634 $231,750 $822,897 $770,788 $1,982,470 $1,879,358 $0 $0 $0 $103,112($434,794)2035(434,794)5,642,582 $47,235 $1,703,917 $252,172 $844,348 $787,733 $2,007,178 $1,882,039 $0 $0 $0 $125,139($309,655)2036(309,655)5,788,450$48,459$1,763,365$273,002$866,228$805,017$2,032,379$1,880,250$0 $0 $0 $152,129($157,526)2036(309,655)5,788,450$48,459$1,763,365$273,002$866,228$805,017$2,032,379$1,880,250$0$0$0$152,129($157,526)Bay Point Housing FundFiscal YearHousing Beginning Fund BalanceHousing Set-AsideBond Debt ServiceContractual Payment ObligationsBudget AppropriationsRemainder for ProjectsHousing Ending Fund Balance2012 $1,463,443 $321,644 $408,531 $193,606 $1,491,508($1,772,001) ($308,558)2013($308,558)$328,807 $405,633 $0 $0($76,826) ($385,384)2014($385,384)$369,472 $405,830 $0 $0($36,359) ($421,742)2015($421,742)$410,792 $407,372 $0 $0 $3,420($418,323)2016($418,323)$452,910 $406,827 $0 $0 $46,083($372,240)2017($372,240)$496,716 $407,648 $0 $0 $89,068($283,172)2018($283,172)$541,396 $408,133 $0 $0 $133,262($149,910)2019($149,910)$553,673 $403,217 $0 $0 $150,455 $5452020 $545 $566,192 $398,216 $0 $0 $167,976 $168,5222021 $168,522 $578,959 $403,090 $0 $0 $175,869 $344,3902022 $344,390 $592,351 $402,247 $0 $0 $190,105 $534,4952023 $534,495 $605,637 $411,001 $0 $0 $194,637 $729,1322024 $729,132 $619,186 $408,787 $0 $0 $210,398 $939,5302025 $939,530 $633,002 $401,171 $0 $0 $231,830 $1,171,3602026 $1,171,360 $646,658 $365,253 $0 $0 $281,406 $1,452,7662027 $1,452,766 $661,121 $360,946 $0 $0 $300,175 $1,752,9412028 $1,752,941 $675,872 $366,462 $0 $0 $309,410 $2,062,3512029 $2,062,351 $690,919 $503,964 $0 $0 $186,955 $2,249,3062030 $2,249,306 $706,266 $506,503 $0 $0 $199,764 $2,449,0702031 $2,449,070 $721,921 $507,783 $0 $0 $214,138 $2,663,2082032 $2,663,208 $737,889 $507,870 $0 $0 $230,018 $2,893,2262033 $2,893,226 $754,175 $506,764 $0 $0 $247,412 $3,140,6382034 $3,140,638 $770,788 $504,463 $0 $0 $266,325 $3,406,9632035 $3,406,963 $787,733 $504,614 $0 $0 $283,119 $3,690,0822036 $3,690,082$805,017$508,192$0 $0 $296,825$3,986,907
North Richmond - Opt-In ScenarioFund Balance SummaryAttachment B (5 of 5)Beginning Balance - Capital 2,925,512Beginning Balance - Housing 1,539,881Capital Other Funds on Hand 596,250Housing Other Funds on Hand959,300Fiscal YearCapital Beginning Fund BalanceGross Tax IncrementProperty Tax Admin Charge33676 PaymentsAB 1290 Pass-ThroughsNegotiated Tax Sharing AgreementsHousing Set-AsideNet Tax IncrementBond Debt ServiceAB x1 27 PaymentContractual Payment ObligationsBudget AppropriationsNet TI Revenue for ProjectsCapital Ending Fund Balance2012 3,521,762 1,963,826 $17,674 $257,551 $0 $0 $341,255 $1,347,346 $350,600 $1,200,215 $161,756 $930,000($1,295,225)$2,226,5372013 2,226,537 2,007,988 $18,072 $272,156 $0 $0 $347,166 $1,370,594 $351,939 $316,366 $0 $0 $702,289 $2,928,8252014 2,928,825 2,129,617 $19,167 $287,053 $0 $0 $368,513 $1,454,885 $354,858 $335,128 $0 $0 $764,899 $3,693,7242015 3,693,724 2,253,334 $20,280 $302,249 $0 $0 $390,217 $1,540,588 $350,241 $354,200 $0 $0 $836,148 $4,529,8722016 4,529,872 2,379,177 $21,413 $317,748 $0 $0 $412,286 $1,627,731 $350,308 $369,059 $0 $0 $908,364 $5,438,2362017 5,438,236 2,510,601 $22,595 $333,557 $0 $0 $435,409 $1,719,040 $350,151 $391,061 $0 $0 $977,828 $6,416,0642018 6,416,064 2,645,284 $23,808 $349,682 $0 $0 $459,120 $1,812,674 $354,540 $426,357 $0 $0 $1,031,777 $7,447,8412019 7,447,841 2,706,255 $24,356 $366,130 $0 $0 $468,025 $1,847,744 $353,681 $436,801 $0 $0 $1,057,261 $8,505,1022020 8,505,102 2,768,446 $24,916 $382,907 $0 $0 $477,108 $1,883,515 $352,583 $447,762 $0 $0 $1,083,170 $9,588,2722021 9,588,272 2,831,880 $25,487 $400,019 $22,036 $0 $486,372 $1,897,966 $353,516 $458,813 $0 $0 $1,085,637 $10,673,9102022 10,673,910 2,896,583 $26,069 $417,474 $45,846 $0 $495,822 $1,911,372 $392,364 $469,646 $0 $0 $1,049,362 $11,723,2722023 11,723,272 2,962,580 $26,663 $435,278 $70,133 $0 $505,461 $1,925,046 $393,063 $480,658 $0 $0 $1,051,324 $12,774,5962024 12,774,596 3,029,897 $27,269 $453,437 $94,906 $0 $515,292 $1,938,993 $393,291 $491,890 $0 $0 $1,053,812 $13,828,4082025 13,828,408 3,098,560 $27,887 $471,960 $120,174 $0 $525,320 $1,953,219 $390,653 $503,346 $0 $0 $1,059,220 $14,887,6282026 14,887,628 3,168,597 $28,517 $490,854 $145,947 $0 $535,549 $1,967,730 $385,270 $514,986 $0 $0 $1,067,473 $15,955,1022027 15,955,102 3,240,034 $29,160 $510,125 $172,236 $0 $545,982 $1,982,531 $374,851 $526,914 $0 $0 $1,080,766 $17,035,8672028 17,035,867 3,312,900 $29,816 $529,782 $199,051 $0 $556,624 $1,997,628 $376,406 $539,081 $0 $0 $1,082,141 $18,118,0082029 18,118,008 3,387,224 $30,485 $549,832 $226,402 $0 $567,478 $2,013,027 $420,445 $551,491 $0 $0 $1,041,091 $19,159,0992030 19,159,099 3,463,034 $31,167 $570,283 $254,300 $0 $578,550 $2,028,733 $421,067 $564,149 $0 $0 $1,043,518 $20,202,6172031 20,202,617 3,540,360 $31,863 $591,142 $282,756 $0 $589,843 $2,044,754 $420,983 $577,060 $0 $0 $1,046,711 $21,249,3282032 21,249,328 3,619,232 $32,573 $612,420 $311,781 $0 $601,363 $2,061,096 $422,574 $590,229 $0 $0 $1,048,292 $22,297,6202033 22,297,620 3,699,682 $33,297 $634,122 $341,387 $0 $613,112 $2,077,764 $420,942 $603,662 $0 $0 $1,053,161 $23,350,7812034 23,350,781 3,781,741 $34,036 $656,259 $371,584 $0 $625,096 $2,094,766 $382,716 $617,363 $0 $0 $1,094,687 $24,445,4682035 24,445,468 3,865,441 $34,789 $678,838 $402,386 $0 $637,321 $2,112,107 $381,526 $631,339 $0 $0 $1,099,243 $25,544,7112036 25,544,711 3,950,816$35,557$701,869$433,804$0 $649,789$2,129,796$382,016$645,594$0 $0 $1,102,186$26,646,897203625,544,7113,950,816$35,557$701,869$433,804$0$649,789$2,129,796$382,016$645,594$0$0$1,102,186$26,646,897North Richmond Housing FundFiscal YearHousing Beginning Fund BalanceHousing Set-AsideBond Debt ServiceContractual Payment ObligationsBudget AppropriationsRemainder for ProjectsHousing Ending Fund Balance2012 $2,499,181 $341,255 $259,658 $318,527 $1,450,254($1,687,184)$811,9982013 $811,998 $347,166 $256,126 $0 $0 $91,040 $903,0382014 $903,038 $368,513 $257,537 $0 $0 $110,976 $1,014,0132015 $1,014,013 $390,217 $260,381 $0 $0 $129,836 $1,143,8492016 $1,143,849 $412,286 $261,240 $0 $0 $151,046 $1,294,8952017 $1,294,895 $435,409 $258,532 $0 $0 $176,877 $1,471,7722018 $1,471,772 $459,120 $259,114 $0 $0 $200,006 $1,671,7782019 $1,671,778 $468,025 $260,064 $0 $0 $207,961 $1,879,7392020 $1,879,739 $477,108 $255,714 $0 $0 $221,394 $2,101,1332021 $2,101,133 $486,372 $261,363 $0 $0 $225,009 $2,326,1422022 $2,326,142 $495,822 $282,305 $0 $0 $213,517 $2,539,6602023 $2,539,660 $505,461 $276,007 $0 $0 $229,453 $2,769,1132024 $2,769,113 $515,292 $284,710 $0 $0 $230,582 $2,999,6942025 $2,999,694 $525,320 $281,690 $0 $0 $243,630 $3,243,3242026 $3,243,324 $535,549 $270,998 $0 $0 $264,551 $3,507,8752027 $3,507,875 $545,982 $271,420 $0 $0 $274,562 $3,782,4362028 $3,782,436 $556,624 $272,982 $0 $0 $283,641 $4,066,0782029 $4,066,078 $567,478 $296,571 $0 $0 $270,907 $4,336,9852030 $4,336,985 $578,550 $295,886 $0 $0 $282,664 $4,619,6482031 $4,619,648 $589,843 $294,692 $0 $0 $295,151 $4,914,8002032 $4,914,800 $601,363 $297,989 $0 $0 $303,374 $5,218,1742033 $5,218,174 $613,112 $295,475 $0 $0 $317,637 $5,535,8112034 $5,535,811 $625,096 $315,520 $0 $0 $309,577 $5,845,3872035 $5,845,387 $637,321 $315,492 $0 $0 $321,828 $6,167,2162036 $6,167,216$649,789$314,563$0 $0 $335,226$6,502,442
Rodeo Project Area - Opt-Out Scenario (34183)Fund Balance SummaryAttachment C (1 of 5)Beginning Balance - Capital 822,950Beginning Balance - Housing 1,874,065Capital Other Funds on Hand 519,371Housing Other Funds on Hand 697,716Fiscal YearGross Tax IncrementProperty Tax Admin Charge33676 PaymentsAB 1290 Pass-ThroughsNegotiated Tax Sharing AgreementsNet Tax IncrementBond Debt ServiceContractual Payment Obligations Admin CostsNet TI Revenue for Schools and Local Taxing EntitiesCounty's Share of Net TI RevenueTI Distributed to School Districts & Other Taxing Entities2012 1,731,420 $16,275 $174,259 $0 $353,902 $1,186,984 $641,928 $66,772 $59,349 $4,333,036 $751,725 $3,581,3112013 1,782,006 $16,751 $186,475 $0 $364,618 $1,214,162 $638,514 $0 $36,425 $539,224 $93,548 $445,67620141 905 054$17 908$198 935$20 398$389 855$1 277 959$641 920$0$38 339$597 701$103 693$494 00820141,905,054$17,908$198,935$20,398$389,855$1,277,959$641,920$0$38,339$597,701$103,693$494,0082015 2,030,162 $19,084 $211,644 $41,204 $415,596 $1,342,635 $636,740 $0 $40,279 $665,615 $115,476 $550,1402016 2,158,992 $20,295 $224,607 $21,222 $441,852 $1,451,017 $639,416 $0 $43,530 $768,071 $133,250 $634,8202017 2,292,612 $21,551 $237,829 $42,869 $468,633 $1,521,731 $638,479 $0 $45,652 $837,600 $145,313 $692,2872018 2,428,905 $22,832 $251,316 $64,948 $495,950 $1,593,860 $635,173 $0 $47,816 $910,870 $158,024 $752,8462019 2,496,546 $23,468 $265,073 $75,906 $509,507 $1,622,593 $644,352 $0 $48,678 $929,564 $161,267 $768,2972020 2,565,540 $24,116 $279,104 $87,083 $523,335 $1,651,902 $639,442 $0 $49,557 $962,902 $167,051 $795,8522021 2,635,914 $24,778 $293,417 $98,483 $537,440 $1,681,796 $639,229 $0 $50,454 $992,113 $172,119 $819,9940,635,9$,8$ 93,$98, 83$53 , 0$ ,68 , 96$639, 9$0$50, 5$99 , 3$,9$8 9,992022 2,707,695 $25,452 $308,015 $110,112 $551,827 $1,712,288 $646,495 $0 $51,369 $1,014,424 $175,989 $838,4352023 2,780,911 $26,141 $322,906 $121,973 $566,501 $1,743,390 $636,640 $0 $52,302 $1,054,448 $182,933 $871,5152024 2,855,592 $26,843 $338,094 $134,071 $581,469 $1,775,115 $640,731 $0 $53,253 $1,081,130 $187,562 $893,5682025 2,931,767 $27,559 $353,587 $146,412 $596,737 $1,807,473 $642,901 $0 $54,224 $1,110,348 $192,631 $917,7172026 3,009,465 $28,289 $369,389 $158,999 $612,310 $1,840,479 $642,199 $0 $55,214 $1,143,066 $198,307 $944,7592027 3,088,717 $29,034 $385,507 $182,622 $628,194 $1,863,360 $642,709 $0 $55,901 $1,164,751 $202,069 $962,6822028 3,169,554 $29,794 $401,947 $206,718 $644,396 $1,886,699 $643,379 $0 $56,601 $1,186,720 $205,880 $980,83920293 252 008$30 569$418 716$231 296$660 922$1 910 505$804 112$0$57 315$1 049 078$182 001$867 07620293,252,008$30,569$418,716$231,296$660,922$1,910,505$804,112$0$57,315$1,049,078$182,001$867,0762030 3,336,111 $31,359 $435,821 $256,365 $677,778 $1,934,787 $802,851 $0 $58,044 $1,073,892 $186,306 $887,5862031 3,421,896 $32,166 $453,268 $281,936 $694,972 $1,959,554 $800,282 $0 $58,787 $1,100,486 $190,920 $909,5662032 3,509,397 $32,988 $471,063 $308,018 $712,509 $1,984,817 $801,403 $0 $59,545 $1,123,869 $194,977 $928,8932033 3,598,647 $33,827 $489,215 $334,622 $730,398 $2,010,585 $803,948 $0 $60,318 $1,146,320 $198,871 $947,4482034 3,689,683 $34,683 $507,729 $361,758 $748,644 $2,036,869 $799,732 $0 $61,106 $1,176,030 $204,026 $972,0052035 3,782,540 $35,556 $526,614 $389,437 $767,255 $2,063,678 $802,893 $0 $61,910 $1,198,874 $207,989 $990,8852036 3,877,253 $36,446 $545,877 $417,669 $786,238 $2,091,023 $801,975 $0 $62,731 $1,226,318 $212,750 $1,013,5680363,8 , 53$36, 6$5 5,8$ ,669$ 86, 38$ ,09 ,0 3$80 ,9 5$0$6 , 3$ , 6,3 8$,50$ ,0 3,5681) FYE 2012 Net Tax Increment Revenue includes all excess fund balance and funds on hand in an Opt-Out Scenario
Contra Costa Centre - Opt-Out Scenario (34183)Fund Balance SummaryAttachment C (2 of 5)Beginning Balance - Capital 4,449,480Beginning Balance - Housing 241,101Capital Other Funds on Hand 38,525Housing Other Funds on Hand0Fiscal YearGross Tax IncrementProperty Tax Admin Charge33676 PaymentsAB 1290 Pass-ThroughsNegotiated Tax Sharing AgreementsNet Tax IncrementBond Debt ServiceContractual Payment ObligationsAdmin CostsNet TI Revenue for Schools and Local Taxing EntitiesCounty's Share of Net TI RevenueTI Distributed to School Districts & Other Taxing Entities2012 8,905,977 $87,896 $150,509 $582,379 $120,951 $7,964,242 $3,738,925 $4,280,718 $0 $4,673,705 $766,953 $3,906,7512013 9,230,798 $91,102 $157,553 $654,300 $123,430 $8,204,414 $3,730,810 $1,913,380 $246,132 $2,314,092 $379,742 $1,934,3502014 9,626,210 $95,004 $165,279 $736,825 $125,958 $8,503,145 $3,735,143 $1,913,380 $255,094 $2,599,528 $426,582 $2,172,9462015 10,027,949 $98,969 $173,160 $820,999 $128,536 $8,806,284 $3,736,043 $1,953,900 $264,189 $2,852,153 $468,037 $2,384,1162016 10,212,368 $100,789 $181,199 $891,701 $131,166 $8,907,513 $3,734,018 $1,994,420 $267,225 $2,911,850 $477,834 $2,434,0162017 10,725,662 $105,855 $189,399 $1,078,541 $133,848 $9,218,020 $3,768,841 $2,261,447 $276,541 $2,911,191 $477,725 $2,433,4662018 11,877,111 $117,219 $197,762 $1,498,565 $136,585 $9,926,980 $3,767,860 $1,713,100 $297,809 $4,148,210 $680,720 $3,467,4912019 12,116,324 $119,580 $206,293 $1,582,818 $139,376 $10,068,258 $3,768,473 $1,714,786 $302,048 $4,282,952 $702,831 $3,580,1212020 12,360,309 $121,988 $214,994 $1,671,727 $142,222 $10,209,378 $3,764,729 $1,716,506 $306,281 $4,421,861 $725,626 $3,696,2362021 12,605,987 $124,412 $223,870 $1,762,414 $145,126 $10,350,165 $3,766,024 $1,718,261 $310,505 $4,555,376 $747,536 $3,807,8402022 12,860,362 $126,923 $232,923 $1,854,915 $148,088 $10,497,514 $3,767,986 $1,720,050 $314,925 $4,694,552 $770,374 $3,924,1782023 13,119,824 $129,483 $242,157 $1,949,265 $151,109 $10,647,810 $3,767,211 $1,721,875 $319,434 $4,839,289 $794,126 $4,045,1632024 13,384,475 $132,095 $251,575 $2,045,503 $154,190 $10,801,111 $3,771,276 $1,723,737 $324,033 $4,982,065 $817,555 $4,164,5102025 13,654,420 $134,760 $261,182 $2,143,666 $157,333 $10,957,479 $3,764,974 $1,725,636 $328,724 $5,138,145 $843,168 $4,294,9772026 13,929,763 $137,477 $270,982 $2,243,791 $160,539 $11,116,974 $3,768,554 $1,727,573 $333,509 $5,287,338 $867,650 $4,419,6882027 14,210,613 $140,249 $280,977 $2,345,920 $163,809 $11,279,659 $3,766,211 $1,729,549 $338,390 $5,445,509 $893,606 $4,551,9032028 14,497,081 $143,076 $291,172 $2,450,090 $167,144 $11,445,598 $3,767,964 $1,731,564 $343,368 $5,602,702 $919,401 $4,683,3002029 14,789,277 $145,960 $301,571 $2,556,345 $170,547 $11,614,855 $3,768,281 $1,733,620 $348,446 $5,764,509 $945,954 $4,818,555203015 087 318$148 901$312 178$2 664 724$174 017$11 787 498$3 766 406$1 735 717$353 625$5 931 750$973 398$4 958 352203015,087,318$148,901$312,178$2,664,724$174,017$11,787,498$3,766,406$1,735,717$353,625$5,931,750$973,398$4,958,3522031 15,391,319 $151,902 $322,997 $2,775,271 $177,556 $11,963,593 $3,767,563 $1,737,855 $358,908 $6,099,268 $1,000,888 $5,098,3802032 15,701,400 $154,962 $334,032 $2,888,029 $181,167 $12,143,211 $3,766,219 $1,693,118 $364,296 $6,319,578 $1,037,040 $5,282,5372033 16,017,683 $158,083 $345,289 $3,003,042 $184,849 $12,326,420 $3,767,125 $1,695,343 $369,793 $6,494,160 $1,065,689 $5,428,4712034 16,340,292 $161,267 $356,770 $3,120,355 $188,605 $12,513,294 $3,764,750 $1,697,612 $375,399 $6,675,533 $1,095,453 $5,580,0812035 16,669,352 $164,515 $368,481 $3,240,014 $192,437 $12,703,906 $3,759,000 $1,699,927 $381,117 $6,863,861 $1,126,357 $5,737,5042036 17,004,994$167,827$380,426$3,362,067$196,345$12,898,329$0 $1,702,288$386,950$10,809,091 $1,773,768$9,035,3231) FYE 2012 Net Tax Increment Revenue includes all excess fund balance and funds on hand in an Opt-Out Scenario
Montalvin Manor - Opt-Out Scenario (34183)Fund Balance SummaryAttachment C (3 of 5)Beginning Balance - Capital 302,605Beginning Balance - Housing 121,285Capital Other Funds on Hand 75,371Housing Other Funds on Hand 29,857Fiscal YearGross Tax IncrementProperty Tax Admin Charge33676 PaymentsAB 1290 Pass-ThroughsNegotiated Tax Sharing AgreementsNet Tax IncrementBond Debt ServiceContractual Payment Obligations Admin CostsNet TI Revenue for Schools and Local Taxing EntitiesCounty's Share of Net TI RevenueTI Distributed to School Districts & Other Taxing Entities2012 128,135 $1,259 $0 $21,988 $0 $104,888 $85,145 $0 $5,244 $543,617 $76,730 $466,8882013 148,000 $1,454 $0 $25,397 $0 $121,150 $87,175 $0 $3,634 $30,341 $4,282 $26,0582014 183,383 $1,801 $0 $31,468 $0 $150,113 $85,831 $0 $4,503 $59,778 $8,437 $51,3412015 219,445 $2,155 $0 $37,657 $0 $179,633 $87,473 $0 $5,389 $86,770 $12,247 $74,5232016 256,202 $2,516 $0 $43,964 $0 $209,721 $85,981 $0 $6,292 $117,449 $16,578 $100,8722017 293,671 $2,884 $0 $44,913 $0 $245,873 $84,488 $0 $7,376 $154,009 $21,738 $132,2712018 331,866 $3,260 $0 $56,948 $0 $271,658 $85,981 $0 $8,150 $177,528 $25,057 $152,4702019 370,804 $3,642 $0 $69,221 $0 $297,942 $87,324 $0 $8,938 $201,679 $28,466 $173,2132020 425,599 $4,180 $0 $86,487 $0 $334,932 $85,533 $0 $10,048 $239,351 $33,784 $205,5682021 478,369 $4,699 $0 $103,564 $0 $370,107 $86,727 $0 $11,103 $272,277 $38,431 $233,8462022 505,138 $4,961 $0 $112,016 $0 $388,161 $84,786 $0 $11,645 $291,729 $41,177 $250,5532023 532,442 $5,230 $0 $120,637 $0 $406,575 $85,831 $0 $12,197 $308,547 $43,550 $264,9972024 560,293 $5,503 $0 $129,431 $0 $425,359 $83,742 $0 $12,761 $328,856 $46,417 $282,4402025 588,700 $5,782 $0 $138,400 $0 $444,518 $84,637 $0 $13,336 $346,545 $48,914 $297,6312026 617,675 $6,067 $0 $147,549 $0 $464,060 $85,383 $0 $13,922 $364,754 $51,484 $313,2712027 647,230 $6,357 $0 $156,881 $0 $483,993 $85,981 $0 $14,520 $383,492 $54,128 $329,3642028 677,376 $6,653 $0 $166,399 $0 $504,324 $86,428 $0 $15,130 $402,766 $56,849 $345,9172029708 126$6 955$0$176 108$0$525 062$83 742$0$15 752$425 569$60 067$365 5012029708,126$6,955$0$176,108$0$525,062$83,742$0$15,752$425,569$60,067$365,5012030 739,490 $7,263 $0 $186,011 $0 $546,215 $84,040 $0 $16,386 $445,789 $62,921 $382,8672031 771,481 $7,578 $0 $196,112 $0 $567,791 $84,189 $0 $17,034 $466,568 $65,854 $400,7142032 804,112 $7,898 $0 $206,415 $0 $589,799 $84,189 $0 $17,694 $487,916 $68,867 $419,0482033 837,396 $8,225 $0 $216,924 $0 $612,246 $84,040 $0 $18,367 $509,839 $71,962 $437,8772034 871,345 $8,558 $0 $227,644 $0 $635,143 $83,742 $0 $19,054 $532,347 $75,139 $457,2082035 905,974 $8,899 $0 $238,577 $0 $658,498 $86,279 $0 $19,755 $552,464 $77,978 $474,4852036 941,294 $9,245 $0 $249,730 $0 $682,319 $85,533 $0 $20,470 $576,317 $81,345 $494,9721) FYE 2012 Net Tax Increment Revenue includes all excess fund balance and funds on hand in an Opt-Out Scenario
Bay Point - Opt-Out Scenario (34183)Fund Balance SummaryAttachment C (4 of 5)Beginning Balance - Capital 164,213Beginning Balance - Housing 888,943Capital Other Funds on Hand 982,500Housing Other Funds on Hand 574,500Fiscal YearGross Tax IncrementProperty Tax Admin Charge33676 PaymentsAB 1290 Pass-ThroughsNegotiated Tax Sharing AgreementsNet Tax IncrementBond Debt ServiceContractual Payment Obligations Admin CostsNet TI Revenue for Schools and Local Taxing EntitiesCounty's Share of Net TI RevenueTI Distributed to School Districts & Other Taxing Entities2012 2,224,696 $18,554 $616,474 $0 $328,726 $1,260,942 $2,063,519 $193,606 $0 $1,613,973 $230,115 $1,383,8572013 2,298,209 $19,171 $654,174 $0 $340,294 $1,284,570 $2,062,653 $0 $0($778,083) ($110,937) ($667,147)2014 2,539,986 $21,200 $692,627 $0 $377,062 $1,449,096 $2,055,646 $0 $0($606,549) ($86,480) ($520,070)2015 2,785,809 $23,263 $731,850 $0 $414,567 $1,616,129 $2,059,018 $0 $0($442,889) ($63,146) ($379,743)2016 3,036,406 $25,366 $771,857 $0 $452,821 $1,786,362 $2,066,602 $0 $0($280,239) ($39,956) ($240,284)2017 3,296,245 $27,546 $812,664 $0 $491,840 $1,964,195 $2,062,584 $0 $0($98,390) ($14,028) ($84,362)2018 3,561,265 $29,770 $854,288 $0 $531,639 $2,145,568 $2,059,832 $0 $64,367 $21,369 $3,047 $18,3232019 3,665,106 $30,642 $896,743 $0 $547,265 $2,190,456 $2,059,027 $0 $65,714 $65,715 $9,369 $56,3462020 3,771,009 $31,530 $940,048 $0 $563,204 $2,236,226 $2,061,862 $0 $67,087 $107,277 $15,295 $91,9822021 3,879,012 $32,437 $984,219 $15,477 $579,461 $2,267,418 $2,061,189 $0 $68,023 $138,206 $19,705 $118,5012022 3,991,030 $33,376 $1,029,274 $15,786 $596,044 $2,316,550 $2,096,919 $0 $69,496 $150,134 $21,406 $128,7292023 4,103,416 $34,320 $1,075,229 $31,889 $612,958 $2,349,021 $2,106,733 $0 $70,471 $171,817 $24,497 $147,3202024 4,218,033 $35,281 $1,122,104 $48,313 $630,210 $2,382,124 $2,103,454 $0 $71,464 $207,207 $29,543 $177,6642025 4,334,924 $36,262 $1,169,916 $65,066 $647,807 $2,415,873 $2,093,831 $0 $72,476 $249,566 $35,582 $213,9832026 4,451,976 $37,245 $1,218,685 $82,153 $665,757 $2,448,137 $2,058,148 $0 $73,444 $316,545 $45,132 $271,4132027 4,574,032 $38,269 $1,268,428 $99,583 $684,065 $2,483,687 $2,052,597 $0 $74,511 $356,579 $50,840 $305,7392028 4,698,528 $39,313 $1,319,167 $117,361 $702,740 $2,519,947 $2,054,960 $0 $75,598 $389,389 $55,518 $333,87120294 825 515$40 379$1 370 920$135 495$721 788$2 556 933$2 231 305$0$76 708$248 920$35 490$213 43020294,825,515$40,379$1,370,920$135,495$721,788$2,556,933$2,231,305$0$76,708$248,920$35,490$213,4302030 4,955,041 $41,466 $1,423,709 $153,991 $741,216 $2,594,659 $2,235,514 $0 $77,840 $281,305 $40,108 $241,1972031 5,087,158 $42,575 $1,477,553 $172,857 $761,034 $2,633,139 $2,235,180 $0 $78,994 $318,965 $45,477 $273,4882032 5,221,917 $43,705 $1,532,474 $192,101 $781,248 $2,672,388 $2,238,067 $0 $80,172 $354,150 $50,494 $303,6562033 5,359,371 $44,859 $1,588,494 $211,729 $801,866 $2,712,423 $2,237,287 $0 $81,373 $393,763 $56,142 $337,6212034 5,499,575 $46,035 $1,645,634 $231,750 $822,897 $2,753,259 $2,383,821 $0 $82,598 $286,839 $40,897 $245,9432035 5,642,582 $47,235 $1,703,917 $252,172 $844,348 $2,794,911 $2,386,653 $0 $83,847 $324,411 $46,253 $278,1572036 5,788,450 $48,459 $1,763,365 $273,002 $866,228 $2,837,396 $2,388,442 $0 $85,122 $363,832 $51,874 $311,9581) FYE 2012 Net Tax Increment Revenue includes all excess fund balance and funds on hand in an Opt-Out Scenario
North Richmond - Opt-Out Scenario (34183)Fund Balance SummaryAttachment C (5 of 5)Beginning Balance - Capital 2,925,512Beginning Balance - Housing 1,539,881Capital Other Funds on Hand 596,250Housing Other Funds on Hand 959,300Fiscal YearGross Tax IncrementProperty Tax Admin Charge33676 PaymentsAB 1290 Pass-ThroughsNegotiated Tax Sharing AgreementsNet Tax IncrementBond Debt ServiceContractual Payment Obligations Admin CostsNet TI Revenue for Schools and Local Taxing EntitiesCounty's Share of Net TI RevenueTI Distributed to School Districts & Other Taxing Entities2012 1,963,826 $17,674 $257,551 $0 $0 $1,688,601 $610,257 $480,283 $84,430 $6,534,573 $969,304 $5,565,2692013 2,007,988 $18,072 $272,156 $0 $0 $1,717,761 $608,066 $0 $51,533 $1,058,162 $156,962 $901,2002014 2,129,617 $19,167 $287,053 $0 $0 $1,823,397 $612,395 $0 $54,702 $1,156,300 $171,520 $984,7812015 2,253,334 $20,280 $302,249 $0 $0 $1,930,806 $610,622 $0 $57,924 $1,262,259 $187,237 $1,075,0222016 2,379,177 $21,413 $317,748 $0 $0 $2,040,017 $611,548 $0 $61,200 $1,367,268 $202,813 $1,164,4552017 2,510,601 $22,595 $333,557 $0 $0 $2,154,449 $608,683 $0 $64,633 $1,481,132 $219,703 $1,261,4292018 2,645,284 $23,808 $349,682 $0 $0 $2,271,795 $613,654 $0 $68,154 $1,589,986 $235,850 $1,354,1362019 2,706,255 $24,356 $366,130 $0 $0 $2,315,769 $613,745 $0 $69,473 $1,632,551 $242,164 $1,390,3872020 2,768,446 $24,916 $382,907 $0 $0 $2,360,623 $608,297 $0 $70,819 $1,681,508 $249,426 $1,432,0822021 2,831,880 $25,487 $400,019 $22,036 $0 $2,384,338 $614,879 $0 $71,530 $1,697,929 $251,862 $1,446,0672022 2,896,583 $26,069 $417,474 $45,846 $0 $2,407,194 $674,668 $0 $72,216 $1,660,310 $246,282 $1,414,0282023 2,962,580 $26,663 $435,278 $70,133 $0 $2,430,506 $669,071 $0 $72,915 $1,688,520 $250,466 $1,438,0542024 3,029,897 $27,269 $453,437 $94,906 $0 $2,454,285 $678,001 $0 $73,629 $1,702,655 $252,563 $1,450,0922025 3,098,560 $27,887 $471,960 $120,174 $0 $2,478,539 $672,343 $0 $74,356 $1,731,839 $256,892 $1,474,9472026 3,168,597 $28,517 $490,854 $145,947 $0 $2,503,278 $656,268 $0 $75,098 $1,771,912 $262,836 $1,509,0762027 3,240,034 $29,160 $510,125 $172,236 $0 $2,528,513 $646,271 $0 $75,855 $1,806,386 $267,950 $1,538,4362028 3,312,900 $29,816 $529,782 $199,051 $0 $2,554,251 $649,388 $0 $76,628 $1,828,235 $271,191 $1,557,04520293 387 224$30 485$549 832$226 402$0$2 580 505$717 016$0$77 415$1 786 073$264 937$1 521 13720293,387,224$30,485$549,832$226,402$0$2,580,505$717,016$0$77,415$1,786,073$264,937$1,521,1372030 3,463,034 $31,167 $570,283 $254,300 $0 $2,607,284 $716,954 $0 $78,219 $1,812,111 $268,799 $1,543,3122031 3,540,360 $31,863 $591,142 $282,756 $0 $2,634,598 $715,676 $0 $79,038 $1,839,884 $272,919 $1,566,9652032 3,619,232 $32,573 $612,420 $311,781 $0 $2,662,458 $720,563 $0 $79,874 $1,862,022 $276,203 $1,585,8192033 3,699,682 $33,297 $634,122 $341,387 $0 $2,690,876 $716,416 $0 $80,726 $1,893,734 $280,906 $1,612,8272034 3,781,741 $34,036 $656,259 $371,584 $0 $2,719,862 $698,236 $0 $81,596 $1,940,030 $287,774 $1,652,2572035 3,865,441 $34,789 $678,838 $402,386 $0 $2,749,428 $697,018 $0 $82,483 $1,969,927 $292,209 $1,677,7182036 3,950,816 $35,557 $701,869 $433,804 $0 $2,779,585 $696,580 $0 $83,388 $1,999,618 $296,613 $1,703,0051) FYE 2012 Net Tax Increment Revenue includes all excess fund balance and funds on hand in an Opt-Out Scenario
Rodeo Project Area - Opt-Out Scenario (34188)Fund Balance SummaryAttachment D (1 of 5)Beginning Balance - Capital 822,950Beginning Balance - Housing 1,874,065Capital Other Funds on Hand 519,371Housing Other Funds on Hand697,716Fiscal YearGross Tax IncrementProperty Tax Admin Charge33676 PaymentsAB 1290 Pass-ThroughsNegotiated Tax Sharing AgreementsNet Tax IncrementBond Debt ServiceContractual Payment Obligations Admin CostsNet TI Revenue for Schools and Local Taxing EntitiesCounty's Share of Net TI RevenueTI Distributed to School Districts & Other Taxing Entities2012 1,731,420 $16,275 $0 $0 $0 $1,715,145 $641,928 $66,772 $85,757 $4,834,789 $838,772 $3,996,0172013 1,782,006 $16,751 $0 $0 $0 $1,765,255 $638,514 $0 $52,958 $1,073,784 $186,287 $887,4972014 1,905,054 $17,908 $0 $0 $0 $1,887,147 $641,920 $0 $56,614 $1,188,612 $206,209 $982,4042015 2,030,162 $19,084 $0 $0 $0 $2,011,078 $636,740 $0 $60,332 $1,314,006 $227,963 $1,086,0432016 2,158,992 $20,295 $0 $0 $0 $2,138,697 $639,416 $0 $64,161 $1,435,121 $248,975 $1,186,1462017 2,292,612 $21,551 $0 $0 $0 $2,271,062 $638,479 $0 $68,132 $1,564,451 $271,412 $1,293,0392018 2,428,905 $22,832 $0 $0 $0 $2,406,074 $635,173 $0 $72,182 $1,698,718 $294,705 $1,404,0132019 2,496,546 $23,468 $0 $0 $0 $2,473,079 $644,352 $0 $74,192 $1,754,534 $304,389 $1,450,1462020 2,565,540 $24,116 $0 $0 $0 $2,541,424 $639,442 $0 $76,243 $1,825,739 $316,742 $1,508,9972021 2,635,914 $24,778 $0 $0 $0 $2,611,136 $639,229 $0 $78,334 $1,893,573 $328,510 $1,565,0632022 2,707,695 $25,452 $0 $0 $0 $2,682,242 $646,495 $0 $80,467 $1,955,280 $339,215 $1,616,0652023 2,780,911 $26,141 $0 $0 $0 $2,754,771 $636,640 $0 $82,643 $2,035,487 $353,130 $1,682,3572024 2,855,592 $26,843 $0 $0 $0 $2,828,750 $640,731 $0 $84,862 $2,103,156 $364,870 $1,738,2862025 2,931,767 $27,559 $0 $0 $0 $2,904,208 $642,901 $0 $87,126 $2,174,181 $377,192 $1,796,9892026 3,009,465 $28,289 $0 $0 $0 $2,981,176 $642,199 $0 $89,435 $2,249,542 $390,266 $1,859,2762027 3,088,717 $29,034 $0 $0 $0 $3,059,683 $642,709 $0 $91,790 $2,325,184 $403,389 $1,921,7952028 3,169,554 $29,794 $0 $0 $0 $3,139,760 $643,379 $0 $94,193 $2,402,189 $416,748 $1,985,4412029 3,252,008 $30,569 $0 $0 $0 $3,221,439 $804,112 $0 $96,643 $2,320,684 $402,608 $1,918,0762030 3,336,111 $31,359 $0 $0 $0 $3,304,752 $802,851 $0 $99,143 $2,402,758 $416,847 $1,985,9112031 3,421,896 $32,166 $0 $0 $0 $3,389,730 $800,282 $0 $101,692 $2,487,757 $431,593 $2,056,1642032 3,509,397 $32,988 $0 $0 $0 $3,476,408 $801,403 $0 $104,292 $2,570,713 $445,985 $2,124,7282033 3,598,647 $33,827 $0 $0 $0 $3,564,820 $803,948 $0 $106,945 $2,653,927 $460,421 $2,193,5062034 3,689,683 $34,683 $0 $0 $0 $3,655,000 $799,732 $0 $109,650 $2,745,618 $476,328 $2,269,2892035 3,782,540 $35,556 $0 $0 $0 $3,746,984 $802,893 $0 $112,410 $2,831,681 $491,259 $2,340,4212036 3,877,253 $36,446 $0 $0 $0 $3,840,807 $801,975 $0 $115,224 $2,923,608 $507,207 $2,416,4001) FYE 2012 Net Tax Increment Revenue includes all excess fund balance and funds on hand in an Opt-Out Scenario
Contra Costa Centre - Opt-Out Scenario (34188)Fund Balance SummaryAttachment D (2 of 5)Beginning Balance - Capital 4,449,480Beginning Balance - Housing 241,101Capital Other Funds on Hand 38,525Housing Other Funds on Hand 0Fiscal YearGross Tax IncrementProperty Tax Admin Charge33676 PaymentsAB 1290 Pass-ThroughsNegotiated Tax Sharing AgreementsNet Tax IncrementBond Debt ServiceContractual Payment Obligations Admin CostsNet TI Revenue for Schools and Local Taxing EntitiesCounty's Share of Net TI RevenueTI Distributed to School Districts & Other Taxing Entities2012 8,905,977 $87,896 $0 $0 $0 $8,818,081 $3,738,925 $4,280,718 $440,904 $5,086,640 $834,716 $4,251,9242013 9,230,798 $91,102 $0 $0 $0 $9,139,697 $3,730,810 $1,913,380 $274,191 $3,221,316 $528,617 $2,692,6992014 9,626,210 $95,004 $0 $0 $0 $9,531,206 $3,735,143 $1,913,380 $285,936 $3,596,748 $590,225 $3,006,5232015 10,027,949 $98,969 $0 $0 $0 $9,928,980 $3,736,043 $1,953,900 $297,869 $3,941,168 $646,744 $3,294,4242016 10,212,368 $100,789 $0 $0 $0 $10,111,579 $3,734,018 $1,994,420 $303,347 $4,079,794 $669,493 $3,410,3012017 10,725,662 $105,855 $0 $0 $0 $10,619,808 $3,768,841 $2,261,447 $318,594 $4,270,925 $700,857 $3,570,0682018 11,877,111 $117,219 $0 $0 $0 $11,759,892 $3,767,860 $1,713,100 $352,797 $5,926,135 $972,477 $4,953,6582019 12,116,324 $119,580 $0 $0 $0 $11,996,745 $3,768,473 $1,714,786 $359,902 $6,153,584 $1,009,801 $5,143,7832020 12,360,309 $121,988 $0 $0 $0 $12,238,321 $3,764,729 $1,716,506 $367,150 $6,389,937 $1,048,586 $5,341,3502021 12,605,987 $124,412 $0 $0 $0 $12,481,575 $3,766,024 $1,718,261 $374,447 $6,622,843 $1,086,806 $5,536,0372022 12,860,362 $126,923 $0 $0 $0 $12,733,439 $3,767,986 $1,720,050 $382,003 $6,863,399 $1,126,281 $5,737,1182023 13,119,824 $129,483 $0 $0 $0 $12,990,341 $3,767,211 $1,721,875 $389,710 $7,111,544 $1,167,002 $5,944,5422024 13,384,475 $132,095 $0 $0 $0 $13,252,380 $3,771,276 $1,723,737 $397,571 $7,359,795 $1,207,740 $6,152,0552025 13,654,420 $134,760 $0 $0 $0 $13,519,660 $3,764,974 $1,725,636 $405,590 $7,623,460 $1,251,007 $6,372,4532026 13,929,763 $137,477 $0 $0 $0 $13,792,286 $3,768,554 $1,727,573 $413,769 $7,882,391 $1,293,497 $6,588,8932027 14,210,613 $140,249 $0 $0 $0 $14,070,365 $3,766,211 $1,729,549 $422,111 $8,152,493 $1,337,821 $6,814,6722028 14,497,081 $143,076 $0 $0 $0 $14,354,005 $3,767,964 $1,731,564 $430,620 $8,423,856 $1,382,352 $7,041,5042029 14,789,277 $145,960 $0 $0 $0 $14,643,317 $3,768,281 $1,733,620 $439,300 $8,702,117 $1,428,014 $7,274,1022030 15,087,318 $148,901 $0 $0 $0 $14,938,416 $3,766,406 $1,735,717 $448,152 $8,988,141 $1,474,951 $7,513,1902031 15,391,319 $151,902 $0 $0 $0 $15,239,417 $3,767,563 $1,737,855 $457,183 $9,276,817 $1,522,322 $7,754,4952032 15,701,400 $154,962 $0 $0 $0 $15,546,438 $3,766,219 $1,693,118 $466,393 $9,620,709 $1,578,755 $8,041,9542033 16,017,683 $158,083 $0 $0 $0 $15,859,600 $3,767,125 $1,695,343 $475,788 $9,921,344 $1,628,089 $8,293,2552034 16,340,292 $161,267 $0 $0 $0 $16,179,024 $3,764,750 $1,697,612 $485,371 $10,231,292 $1,678,951 $8,552,3402035 16,669,352 $164,515 $0 $0 $0 $16,504,838 $3,759,000 $1,699,927 $495,145 $10,550,766 $1,731,377 $8,819,3892036 17,004,994 $167,827 $0 $0 $0 $16,837,167 $0 $1,702,288 $505,115 $14,629,764 $2,400,739 $12,229,0251) FYE 2012 Net Tax Increment Revenue includes all excess fund balance and funds on hand in an Opt-Out Scenario
Montalvin Manor - Opt-Out Scenario (34188)Fund Balance SummaryAttachment D (3 of 5)Beginning Balance - Capital 302,605Beginning Balance - Housing 121,285Capital Other Funds on Hand 75,371Housing Other Funds on Hand 29,857Fiscal YearGross Tax IncrementProperty Tax Admin Charge33676 PaymentsAB 1290 Pass-ThroughsNegotiated Tax Sharing AgreementsNet Tax IncrementBond Debt ServiceContractual Payment Obligations Admin CostsNet TI Revenue for Schools and Local Taxing EntitiesCounty's Share of Net TI RevenueTI Distributed to School Districts & Other Taxing Entities2012 128,135 $1,259 $0 $0 $0 $126,876 $85,145 $0 $6,344 $564,506 $79,678 $484,8282013 148,000 $1,454 $0 $0 $0 $146,547 $87,175 $0 $4,396 $54,976 $7,760 $47,2162014 183,383 $1,801 $0 $0 $0 $181,582 $85,831 $0 $5,447 $90,303 $12,746 $77,5572015 219,445 $2,155 $0 $0 $0 $217,289 $87,473 $0 $6,519 $123,297 $17,403 $105,8942016 256,202 $2,516 $0 $0 $0 $253,686 $85,981 $0 $7,611 $160,095 $22,597 $137,4982017 293,671 $2,884 $0 $0 $0 $290,786 $84,488 $0 $8,724 $197,575 $27,887 $169,6882018 331,866 $3,260 $0 $0 $0 $328,606 $85,981 $0 $9,858 $232,767 $32,854 $199,9132019 370,804 $3,642 $0 $0 $0 $367,162 $87,324 $0 $11,015 $268,823 $37,943 $230,8802020 425,599 $4,180 $0 $0 $0 $421,419 $85,533 $0 $12,643 $323,244 $45,625 $277,6192021 478,369 $4,699 $0 $0 $0 $473,670 $86,727 $0 $14,210 $372,733 $52,610 $320,1242022 505,138 $4,961 $0 $0 $0 $500,176 $84,786 $0 $15,005 $400,385 $56,513 $343,8722023 532,442 $5,230 $0 $0 $0 $527,213 $85,831 $0 $15,816 $425,565 $60,067 $365,4982024 560,293 $5,503 $0 $0 $0 $554,789 $83,742 $0 $16,644 $454,404 $64,137 $390,2672025 588,700 $5,782 $0 $0 $0 $582,918 $84,637 $0 $17,488 $480,793 $67,862 $412,9312026 617,675 $6,067 $0 $0 $0 $611,609 $85,383 $0 $18,348 $507,877 $71,685 $436,1922027 647,230 $6,357 $0 $0 $0 $640,873 $85,981 $0 $19,226 $535,666 $75,607 $460,0592028 677,376 $6,653 $0 $0 $0 $670,723 $86,428 $0 $20,122 $564,173 $79,631 $484,5422029 708,126 $6,955 $0 $0 $0 $701,170 $83,742 $0 $21,035 $596,394 $84,179 $512,2152030 739,490 $7,263 $0 $0 $0 $732,226 $84,040 $0 $21,967 $626,219 $88,389 $537,8312031 771,481 $7,578 $0 $0 $0 $763,903 $84,189 $0 $22,917 $656,797 $92,704 $564,0922032 804,112 $7,898 $0 $0 $0 $796,214 $84,189 $0 $23,886 $688,138 $97,128 $591,0102033 837,396 $8,225 $0 $0 $0 $829,171 $84,040 $0 $24,875 $720,256 $101,661 $618,5942034 871,345 $8,558 $0 $0 $0 $862,787 $83,742 $0 $25,884 $753,162 $106,306 $646,8562035 905,974 $8,899 $0 $0 $0 $897,075 $86,279 $0 $26,912 $783,884 $110,642 $673,2412036 941,294 $9,245 $0 $0 $0 $932,049 $85,533 $0 $27,961 $818,555 $115,536 $703,0191) FYE 2012 Net Tax Increment Revenue includes all excess fund balance and funds on hand in an Opt-Out Scenario
Bay Point - Opt-Out Scenario (34188)Fund Balance SummaryAttachment D (4 of 5)Beginning Balance - Capital 164,213Beginning Balance - Housing 888,943Capital Other Funds on Hand 982,500Housing Other Funds on Hand 574,500Fiscal YearGross Tax IncrementProperty Tax Admin Charge33676 PaymentsAB 1290 Pass-ThroughsNegotiated Tax Sharing AgreementsNet Tax IncrementBond Debt ServiceContractual Payment Obligations Admin CostsNet TI Revenue for Schools and Local Taxing EntitiesCounty's Share of Net TI RevenueTI Distributed to School Districts & Other Taxing Entities2012 2,224,696 $18,554 $0 $0 $0 $2,206,142 $2,063,519 $193,606 $0 $2,559,173 $364,879 $2,194,2942013 2,298,209 $19,171 $0 $0 $0 $2,279,038 $2,062,653 $0 $68,371 $148,013 $21,103 $126,9102014 2,539,986 $21,200 $0 $0 $0 $2,518,786 $2,055,646 $0 $75,564 $387,577 $55,259 $332,3172015 2,785,809 $23,263 $0 $0 $0 $2,762,546 $2,059,018 $0 $82,876 $620,651 $88,491 $532,1612016 3,036,406 $25,366 $0 $0 $0 $3,011,040 $2,066,602 $0 $90,331 $854,107 $121,776 $732,3312017 3,296,245 $27,546 $0 $0 $0 $3,268,699 $2,062,584 $0 $98,061 $1,108,053 $157,983 $950,0702018 3,561,265 $29,770 $0 $0 $0 $3,531,495 $2,059,832 $0 $105,945 $1,365,719 $194,720 $1,170,9992019 3,665,106 $30,642 $0 $0 $0 $3,634,465 $2,059,027 $0 $109,034 $1,466,404 $209,075 $1,257,3292020 3,771,009 $31,530 $0 $0 $0 $3,739,478 $2,061,862 $0 $112,184 $1,565,432 $223,194 $1,342,2372021 3,879,012 $32,437 $0 $0 $0 $3,846,576 $2,061,189 $0 $115,397 $1,669,989 $238,102 $1,431,8872022 3,991,030 $33,376 $0 $0 $0 $3,957,654 $2,096,919 $0 $118,730 $1,742,005 $248,370 $1,493,6352023 4,103,416 $34,320 $0 $0 $0 $4,069,096 $2,106,733 $0 $122,073 $1,840,291 $262,383 $1,577,9082024 4,218,033 $35,281 $0 $0 $0 $4,182,751 $2,103,454 $0 $125,483 $1,953,815 $278,569 $1,675,2462025 4,334,924 $36,262 $0 $0 $0 $4,298,662 $2,093,831 $0 $128,960 $2,075,871 $295,971 $1,779,9002026 4,451,976 $37,245 $0 $0 $0 $4,414,732 $2,058,148 $0 $132,442 $2,224,141 $317,111 $1,907,0302027 4,574,032 $38,269 $0 $0 $0 $4,535,763 $2,052,597 $0 $136,073 $2,347,093 $334,641 $2,012,4522028 4,698,528 $39,313 $0 $0 $0 $4,659,215 $2,054,960 $0 $139,776 $2,464,479 $351,378 $2,113,1012029 4,825,515 $40,379 $0 $0 $0 $4,785,136 $2,231,305 $0 $143,554 $2,410,277 $343,650 $2,066,6272030 4,955,041 $41,466 $0 $0 $0 $4,913,575 $2,235,514 $0 $147,407 $2,530,654 $360,813 $2,169,8412031 5,087,158 $42,575 $0 $0 $0 $5,044,583 $2,235,180 $0 $151,337 $2,658,066 $378,979 $2,279,0872032 5,221,917 $43,705 $0 $0 $0 $5,178,212 $2,238,067 $0 $155,346 $2,784,798 $397,048 $2,387,7502033 5,359,371 $44,859 $0 $0 $0 $5,314,512 $2,237,287 $0 $159,435 $2,917,790 $416,009 $2,501,7802034 5,499,575 $46,035 $0 $0 $0 $5,453,539 $2,383,821 $0 $163,606 $2,906,112 $414,344 $2,491,7672035 5,642,582 $47,235 $0 $0 $0 $5,595,347 $2,386,653 $0 $167,860 $3,040,834 $433,553 $2,607,2812036 5,788,450 $48,459 $0 $0 $0 $5,739,990 $2,388,442 $0 $172,200 $3,179,349 $453,302 $2,726,0471) FYE 2012 Net Tax Increment Revenue includes all excess fund balance and funds on hand in an Opt-Out Scenario
North Richmond - Opt-Out Scenario (34188)Fund Balance SummaryAttachment D (5 of 5)Beginning Balance - Capital 2,925,512Beginning Balance - Housing 1,539,881Capital Other Funds on Hand 596,250Housing Other Funds on Hand 959,300Fiscal YearGross Tax IncrementProperty Tax Admin Charge33676 PaymentsAB 1290 Pass-ThroughsNegotiated Tax Sharing AgreementsNet Tax IncrementBond Debt ServiceContractual Payment Obligations Admin CostsNet TI Revenue for Schools and Local Taxing EntitiesCounty's Share of Net TI RevenueTI Distributed to School Districts & Other Taxing Entities2012 1,963,826 $17,674 $0 $0 $0 $1,946,151 $610,257 $480,283 $97,308 $6,779,246 $1,005,598 $5,773,6492013 2,007,988 $18,072 $0 $0 $0 $1,989,916 $608,066 $0 $59,697 $1,322,153 $196,121 $1,126,0322014 2,129,617 $19,167 $0 $0 $0 $2,110,451 $612,395 $0 $63,314 $1,434,742 $212,822 $1,221,9202015 2,253,334 $20,280 $0 $0 $0 $2,233,054 $610,622 $0 $66,992 $1,555,440 $230,726 $1,324,7152016 2,379,177 $21,413 $0 $0 $0 $2,357,764 $611,548 $0 $70,733 $1,675,484 $248,532 $1,426,9512017 2,510,601 $22,595 $0 $0 $0 $2,488,006 $608,683 $0 $74,640 $1,804,682 $267,697 $1,536,9852018 2,645,284 $23,808 $0 $0 $0 $2,621,477 $613,654 $0 $78,644 $1,929,178 $286,164 $1,643,0142019 2,706,255 $24,356 $0 $0 $0 $2,681,899 $613,745 $0 $80,457 $1,987,697 $294,845 $1,692,8522020 2,768,446 $24,916 $0 $0 $0 $2,743,530 $608,297 $0 $82,306 $2,052,927 $304,520 $1,748,4072021 2,831,880 $25,487 $0 $0 $0 $2,806,393 $614,879 $0 $84,192 $2,107,323 $312,589 $1,794,7332022 2,896,583 $26,069 $0 $0 $0 $2,870,514 $674,668 $0 $86,115 $2,109,730 $312,946 $1,796,7842023 2,962,580 $26,663 $0 $0 $0 $2,935,917 $669,071 $0 $88,078 $2,178,769 $323,187 $1,855,5812024 3,029,897 $27,269 $0 $0 $0 $3,002,628 $678,001 $0 $90,079 $2,234,548 $331,461 $1,903,0872025 3,098,560 $27,887 $0 $0 $0 $3,070,673 $672,343 $0 $92,120 $2,306,210 $342,091 $1,964,1192026 3,168,597 $28,517 $0 $0 $0 $3,140,080 $656,268 $0 $94,202 $2,389,610 $354,462 $2,035,1472027 3,240,034 $29,160 $0 $0 $0 $3,210,874 $646,271 $0 $96,326 $2,468,277 $366,131 $2,102,1452028 3,312,900 $29,816 $0 $0 $0 $3,283,084 $649,388 $0 $98,493 $2,535,203 $376,059 $2,159,1452029 3,387,224 $30,485 $0 $0 $0 $3,356,739 $717,016 $0 $100,702 $2,539,020 $376,625 $2,162,3952030 3,463,034 $31,167 $0 $0 $0 $3,431,866 $716,954 $0 $102,956 $2,611,957 $387,444 $2,224,5132031 3,540,360 $31,863 $0 $0 $0 $3,508,496 $715,676 $0 $105,255 $2,687,566 $398,659 $2,288,9062032 3,619,232 $32,573 $0 $0 $0 $3,586,659 $720,563 $0 $107,600 $2,758,496 $409,181 $2,349,3152033 3,699,682 $33,297 $0 $0 $0 $3,666,385 $716,416 $0 $109,992 $2,839,977 $421,267 $2,418,7102034 3,781,741 $34,036 $0 $0 $0 $3,747,706 $698,236 $0 $112,431 $2,937,038 $435,665 $2,501,3742035 3,865,441 $34,789 $0 $0 $0 $3,830,652 $697,018 $0 $114,920 $3,018,715 $447,780 $2,570,9342036 3,950,816 $35,557 $0 $0 $0 $3,915,258 $696,580 $0 $117,458 $3,101,221 $460,019 $2,641,2021) FYE 2012 Net Tax Increment Revenue includes all excess fund balance and funds on hand in an Opt-Out Scenario
Contra Costa County RDA Financial Model - Summary Table - Attachment EOpt-In Cash Flows Opt-Out Cash Flows (34183) Opt-Out Cash Flows (34188)Agency Cash Flows Taxing Entities County Cash Flows Taxing Entities County Cash Flows Taxing EntitiesFiscal Combined PV of Payments PV of Property Tax Combined PV of Payments PV of Property Tax Combined PV of Payments PV ofYear Capital Net Housing Net Project Benefit Benefit to Taxing Payment Allocated Project Benefit Benefit to Taxing Payment Allocated Project Benefit Benefit to Taxing Payment Ending TI Revenue TI Revenue Spending to Agency Stream Entities Stream to County GF Spending to County Stream Entities Stream to County GF Spending to County Stream Entities Stream2012 3,283,279 580,928 24,556,001 28,420,208 27,160,787 7,909,421 7,558,920 3,074,390 15,321,379 18,395,769 17,580,573 17,231,254 16,467,6633,123,515 15,321,379 18,444,894 17,627,522 16,700,839 15,960,7542013 422,740 95,111 3,606,501 4,124,353 3,751,657 4,068,883 3,701,200 826,311 1,913,380 2,739,691 2,492,120 5,115,819 4,653,531 939,800 1,913,380 2,853,180 2,595,353 4,880,442 4,439,4232014 673,615 182,667 3,849,477 4,705,759 4,074,266 4,392,477 3,803,025 955,515 1,913,380 2,868,895 2,483,901 5,876,703 5,088,074 1,077,162 1,913,380 2,990,542 2,589,224 5,620,819 4,866,5282015 2,555,611 274,205 2,470,958 5,300,774 4,368,287 4,722,277 3,891,557 1,081,245 1,953,900 3,035,145 2,501,217 6,620,125 5,455,544 1,211,218 1,953,900 3,165,118 2,608,326 6,343,345 5,227,4542016 2,878,568 452,324 2,420,748 5,751,640 4,510,837 4,983,563 3,908,458 1,172,506 1,994,420 3,166,926 2,483,724 7,190,029 5,638,922 1,311,261 1,994,420 3,305,681 2,592,545 6,893,340 5,406,2372017 3,007,621 1,076,950 2,261,447 6,346,018 4,737,170 5,429,266 4,052,834 1,278,786 2,261,447 3,540,232 2,642,710 7,840,849 5,853,031 1,425,719 2,261,447 3,687,166 2,752,392 7,519,967 5,613,4992018 3,637,910 1,957,198 1,713,100 7,308,208 5,192,552 6,176,835 4,388,701 1,617,479 1,713,100 3,330,579 2,366,409 9,668,169 6,869,327 1,780,756 1,713,100 3,493,856 2,482,418 9,371,761 6,658,7262019 3,786,191 2,039,366 1,714,786 7,540,343 5,099,332 6,440,086 4,355,258 1,688,611 1,714,786 3,403,397 2,301,627 10,082,181 6,818,310 1,855,883 1,714,786 3,570,669 2,414,748 9,775,160 6,610,6792020 3,948,012 2,142,215 1,716,506 7,806,734 5,024,410 6,717,577 4,323,429 1,767,179 1,716,506 3,483,686 2,242,099 10,536,833 6,781,501 1,938,491 1,716,506 3,654,997 2,352,355 10,218,788 6,576,8072021 4,075,274 2,220,702 1,718,261 8,014,236 4,909,419 7,037,066 4,310,818 1,843,164 1,718,261 3,561,425 2,181,684 10,978,263 6,725,145 2,018,434 1,718,261 3,736,695 2,289,052 10,648,027 6,522,8462022 4,132,703 2,282,367 1,720,050 8,135,120 4,743,340 7,338,050 4,278,593 1,903,730 1,720,050 3,623,780 2,112,915 11,329,739 6,606,025 2,083,136 1,720,050 3,803,186 2,217,522 10,987,664 6,406,5712023 4,255,651 2,373,639 1,721,875 8,351,166 4,634,679 7,660,684 4,251,480 1,982,015 1,721,875 3,703,891 2,055,563 11,780,640 6,537,948 2,165,572 1,721,875 3,887,448 2,157,432 11,426,082 6,341,1772024 4,372,947 2,457,640 1,723,737 8,554,325 4,518,058 7,989,770 4,219,882 2,058,782 1,723,737 3,782,520 1,997,778 12,226,435 6,457,522 2,246,574 1,723,737 3,970,311 2,096,962 11,859,144 6,263,5332025 4,510,549 2,555,814 1,725,636 8,792,000 4,419,834 8,325,435 4,185,287 2,141,803 1,725,636 3,867,439 1,944,204 12,706,880 6,387,887 2,333,913 1,725,636 4,059,549 2,040,780 12,326,603 6,196,7182026 4,637,159 2,696,966 1,727,573 9,061,698 4,335,909 8,667,633 4,147,354 2,230,288 1,727,573 3,957,862 1,893,787 13,220,281 6,325,739 2,426,804 1,727,573 4,154,377 1,987,818 12,826,757 6,137,4422027 4,773,472 2,793,088 1,729,549 9,296,109 4,233,739 9,027,680 4,111,488 2,316,412 1,729,549 4,045,961 1,842,657 13,718,652 6,247,903 2,517,365 1,729,549 4,246,914 1,934,177 13,311,349 6,062,4052028 4,892,413 2,885,761 1,731,564 9,509,739 4,121,781 9,394,929 4,072,020 2,400,456 1,731,564 4,132,020 1,790,931 14,205,323 6,156,976 2,605,935 1,731,564 4,337,499 1,879,991 13,783,966 5,974,3482029 4,843,528 2,756,674 1,733,620 9,333,822 3,850,598 9,769,523 4,030,343 2,424,740 1,733,620 4,158,360 1,715,500 14,369,349 5,927,966 2,634,835 1,733,620 4,368,455 1,802,173 13,933,656 5,748,2242030 4,970,030 2,857,715 1,735,717 9,563,461 3,755,225 10,151,609 3,986,170 2,513,390 1,735,717 4,249,107 1,668,470 14,881,850 5,843,564 2,728,194 1,735,717 4,463,911 1,752,816 14,431,534 5,666,7422031 5,100,947 2,963,103 1,737,855 9,801,905 3,663,394 10,541,336 3,939,752 2,604,394 1,737,855 4,342,249 1,622,886 15,408,231 5,758,720 2,824,001 1,737,855 4,561,857 1,704,962 14,943,001 5,584,8432032 5,178,699 3,162,815 1,693,118 10,034,632 3,569,177 10,938,858 3,890,798 2,703,324 1,693,118 4,396,442 1,563,753 15,975,468 5,682,249 2,927,830 1,693,118 4,620,948 1,643,606 15,495,024 5,511,3622033 5,313,504 3,272,493 1,695,343 10,281,340 3,480,717 11,344,331 3,840,589 2,797,671 1,695,343 4,493,013 1,521,096 16,522,081 5,593,501 3,027,174 1,695,343 4,722,517 1,598,794 16,026,120 5,425,5942034 5,343,439 3,368,812 1,697,612 10,409,863 3,354,411 11,757,912 3,788,798 2,876,712 1,697,612 4,574,324 1,474,002 16,973,698 5,469,501 3,111,312 1,697,612 4,808,924 1,549,598 16,461,909 5,304,5852035 5,486,697 3,476,662 1,699,927 10,663,286 3,270,503 12,179,766 3,735,618 2,974,520 1,699,927 4,674,447 1,433,685 17,539,492 5,379,482 3,214,320 1,699,927 4,914,246 1,507,233 17,011,559 5,217,5622036 9,389,968 3,590,430 1,702,288 14,682,686 4,285,707 12,610,057 3,680,731 3,691,292 1,702,288 5,393,580 1,574,324 21,260,503 6,205,696 3,936,394 1,702,288 5,638,682 1,645,867 20,716,102 6,046,792Total:105,470,529 54,515,646 71,803,250 231,789,425 129,065,790 205,575,025 104,453,099 52,924,717 57,996,024 110,920,741 65,487,614 313,258,849160,931,725 57,465,597 57,996,024 115,461,622 67,823,665 303,512,957 155,770,8531) Assumes all revenues are received on July 1 of the relevant fiscal year for PV calculations. All payments are discounted to 8/1/2011 at 5%2) All scenarios assume fund balances and funds on hand are included as part tax increment revenue FYE 20123) Payments to Taxing Entities in the Opt-In Scenario Cash Flows also include $18.5 million of tax sharing payments allocated to the County General Fund ($9.0 million in present value dollars)
Contra Costa County RDA Model - Attachment F - Opt-In Allocation of Tax-Sharing Payments - All Project AreasCounty General FundCounty Library DistrictCounty Fire Protection District S/A L100 CSA M 17County Flood ControlCounty Flood Control Z3BCounty Flood Control Z8A S/A P6Rodeo Hercules fireCounty Water AgencyCounty Resource ConservationMosquito AbatementRodeo SanitationCentral Sanitation2011 Base $257,954 $26,020 $675,424 $15,292 $661 $3,054 $6,527 $670 $20,132 $247,801 $623 $239 $8,733 $9,981 $12,5492012 $279,680 $28,151 $702,465 $15,345 $662 $3,305 $7,536 $670 $21,727 $247,801 $674 $261 $8,956 $9,981 $15,3162013 $302,778 $30,463 $858,118 $16,372 $765 $3,576 $8,254 $717 $23,497 $256,175 $730 $283 $9,360 $10,680 $16,9662014 $331,835 $33,378 $926,077 $18,010 $948 $3,918 $9,109 $844 $25,696 $276,409 $799 $307 $9,992 $12,562 $18,8522015 $361,473 $36,351 $995,377 $19,681 $1,134 $4,267 $9,981 $973 $27,940 $297,048 $871 $331 $10,636 $14,482 $20,7762016 $382,068 $38,405 $1,061,327 $20,289 $1,324 $4,509 $10,657 $946 $29,549 $312,929 $920 $353 $11,192 $14,080 $22,4212017 $428,415 $43,017 $1,146,867 $21,965 $1,352 $5,050 $12,321 $1,080 $33,012 $334,402 $1,031 $395 $12,021 $16,077 $26,4972018 $514,897 $51,574 $1,275,161 $23,970 $1,715 $6,055 $15,767 $1,217 $39,442 $356,304 $1,236 $477 $13,269 $18,114 $35,4502019 $544,633 $54,557 $1,322,513 $25,573 $2,084 $6,405 $16,632 $1,312 $41,715 $368,060 $1,307 $503 $13,781 $19,530 $37,3892020 $576,121 $57,716 $1,372,343 $27,297 $2,604 $6,776 $17,536 $1,409 $44,127 $380,051 $1,383 $529 $14,315 $20,974 $39,4282021 $613,639 $61,491 $1,429,951 $29,365 $3,118 $7,219 $18,589 $1,508 $47,033 $392,281 $1,474 $561 $14,917 $22,446 $41,5092022 $648,633 $65,005 $1,484,432 $31,090 $3,373 $7,632 $19,671 $1,608 $49,718 $404,757 $1,558 $592 $15,496 $23,948 $43,6312023 $686,578 $68,821 $1,542,390 $33,078 $3,632 $8,080 $20,775 $1,711 $52,647 $417,482 $1,649 $625 $16,111 $25,481 $45,7962024 $725,282 $72,713 $1,601,507 $35,106 $3,897 $8,537 $21,902 $1,816 $55,635 $430,461 $1,742 $660 $16,738 $27,044 $48,0042025 $764,759 $76,683 $1,661,806 $37,174 $4,167 $9,003 $23,050 $1,923 $58,682 $443,700 $1,837 $695 $17,378 $28,638 $50,2562026 $805,027 $80,732 $1,723,312 $39,284 $4,443 $9,478 $24,222 $2,033 $61,791 $457,204 $1,934 $731 $18,030 $30,264 $52,5532027 $847,970 $85,054 $1,786,047 $41,721 $4,724 $9,986 $25,443 $2,185 $65,091 $472,331 $2,038 $767 $18,716 $32,540 $54,8972028 $891,773 $89,463 $1,850,037 $44,207 $5,010 $10,503 $26,688 $2,341 $68,458 $487,761 $2,143 $805 $19,415 $34,862 $57,2872029 $936,451 $93,960 $1,915,307 $46,743 $5,303 $11,031 $27,958 $2,500 $71,892 $503,499 $2,251 $843 $20,129 $37,230 $59,7242030 $982,023 $98,547 $1,981,882 $49,329 $5,601 $11,570 $29,253 $2,663 $75,394 $519,552 $2,361 $881 $20,856 $39,645 $62,2112031 $1,028,507 $103,225 $2,049,789 $51,967 $5,905 $12,119 $30,575 $2,828 $78,967 $535,926 $2,473 $921 $21,598 $42,109 $64,7472032 $1,075,920 $107,998 $2,119,053 $54,658 $6,215 $12,679 $31,922 $2,997 $82,611 $552,627 $2,587 $961 $22,355 $44,622 $67,3342033 $1,124,282 $112,865 $2,189,703 $57,403 $6,532 $13,250 $33,297 $3,169 $86,328 $569,662 $2,704 $1,003 $23,128 $47,186 $69,9732034 $1,173,611 $117,830 $2,261,766 $60,202 $6,854 $13,833 $34,699 $3,345 $90,119 $587,039 $2,823 $1,045 $23,915 $49,800 $72,6642035 $1,223,926 $122,895 $2,335,270 $63,058 $7,184 $14,428 $36,130 $3,524 $93,986 $604,762 $2,944 $1,087 $24,718 $52,467 $75,4102036 $1,275,248 $128,060 $2,410,244 $65,971 $7,519 $15,034 $37,588 $3,706 $97,931 $622,840 $3,068 $1,131 $25,538 $55,188 $78,210Total:18,525,529 1,858,952 40,002,742 928,857 96,065 218,244 549,555 49,024 1,422,988 10,831,061 44,538 16,745 422,560 729,949 1,177,301
2011 Base2012201320142015201620172018201920202021202220232024202520262027202820292030203120322033203420352036Total:Contra Costa County RDA Model - Attachment F - Opt-In Allocation of Tax-Sharing Payments - All Project AreasWest SanitationDelta Diablo Z1 Z2Los Medanos HospitalMount Diablo HospitalWest County HospitalAlamo Cemetery Ambrose RecPleasant Hill Recreation County Water EBMUD AC Transit BARTBay Area Air MgmtE Bay Regional ParkWalnut Creek Service Area$4,108 $42,201 $11,256 $586 $7,507 $94 $35,073 $19,720 $5,933 $7,366 $14,480 $11,011 $3,209 $52,348 $751$4,108 $42,201 $11,256 $715 $7,508 $115 $35,073 $24,068 $6,609 $7,367 $14,843 $15,933 $3,472 $56,636 $917$4,383 $44,782 $11,944 $792 $8,008 $127 $37,218 $26,661 $7,188 $7,859 $20,479 $70,733 $3,757 $61,287 $1,015$4,713 $47,414 $12,647 $880 $8,929 $141 $39,405 $29,625 $7,828 $8,763 $21,630 $76,833 $4,117 $67,151 $1,128$5,050 $50,099 $13,363 $970 $9,869 $155 $41,637 $32,648 $8,480 $9,685 $22,804 $83,036 $4,484 $73,133 $1,243$5,393 $52,838 $14,093 $1,046 $10,075 $168 $43,913 $35,233 $9,068 $9,888 $24,000 $88,811 $4,737 $77,267 $1,342$5,638 $55,631 $14,838 $1,237 $10,971 $198 $46,235 $41,638 $10,254 $10,768 $25,227 $96,093 $5,306 $86,545 $1,586$6,101 $58,481 $15,598 $1,654 $12,050 $265 $48,603 $55,707 $12,636 $11,828 $26,481 $105,561 $6,363 $103,761 $2,122$6,573 $61,387 $16,373 $1,745 $12,938 $280 $51,018 $58,753 $13,307 $12,700 $27,563 $109,083 $6,731 $109,762 $2,238$7,145 $64,352 $17,164 $1,840 $13,915 $295 $53,482 $61,959 $14,007 $13,659 $28,667 $112,811 $7,120 $116,117 $2,360$8,035 $68,435 $18,253 $1,937 $15,246 $311 $56,875 $65,229 $14,793 $14,965 $31,031 $116,844 $7,586 $123,712 $2,484$8,788 $71,540 $19,081 $2,036 $16,492 $326 $59,456 $68,564 $15,522 $16,187 $33,518 $120,832 $8,019 $130,783 $2,611$9,557 $75,788 $20,215 $2,137 $17,762 $343 $62,987 $71,965 $16,340 $17,433 $36,055 $124,975 $8,490 $138,459 $2,741$10,340 $80,122 $21,370 $2,240 $19,057 $359 $66,588 $75,435 $17,174 $18,704 $38,642 $129,200 $8,970 $146,290 $2,873$11,140 $84,541 $22,549 $2,345 $20,379 $376 $70,261 $78,974 $18,024 $20,001 $41,281 $133,509 $9,460 $154,276 $3,008$11,955 $89,050 $23,752 $2,453 $21,727 $393 $74,008 $82,584 $18,892 $21,323 $43,973 $137,877 $9,959 $162,423 $3,145$12,787 $93,648 $24,978 $2,562 $23,298 $411 $77,830 $86,266 $19,777 $22,865 $46,719 $142,448 $10,492 $171,119 $3,286$13,635 $98,338 $26,229 $2,674 $24,901 $429 $81,728 $90,022 $20,679 $24,438 $49,519 $147,110 $11,036 $179,989 $3,429$14,500 $103,123 $27,505 $2,787 $26,536 $447 $85,704 $93,852 $21,600 $26,042 $52,376 $151,865 $11,591 $189,036 $3,575$15,383 $108,002 $28,807 $2,903 $28,204 $465 $89,760 $97,760 $22,539 $27,678 $55,290 $156,715 $12,156 $198,264 $3,723$16,283 $112,980 $30,134 $3,022 $29,905 $484 $93,896 $101,746 $23,497 $29,347 $58,262 $161,663 $12,733 $207,677 $3,875$17,202 $118,057 $31,489 $3,142 $31,640 $504 $98,116 $105,811 $24,474 $31,050 $61,293 $166,709 $13,322 $217,278 $4,030$18,138 $123,235 $32,870 $3,266 $33,410 $523 $102,419 $109,957 $25,471 $32,786 $64,385 $171,856 $13,922 $227,071 $4,188$19,094 $128,517 $34,279 $3,391 $35,216 $544 $106,809 $114,187 $26,487 $34,557 $67,539 $177,107 $14,535 $237,060 $4,349$20,068 $133,905 $35,716 $3,519 $37,057 $564 $111,287 $118,501 $27,524 $36,364 $70,756 $182,462 $15,159 $247,248 $4,513$21,062 $139,401 $37,182 $3,650 $38,935 $585 $115,854 $122,902 $28,582 $38,207 $74,038 $187,925 $15,796 $257,641 $4,681277,071 2,105,868 561,686 54,944 514,030 8,808 1,750,162 1,850,045 430,753 504,462 1,036,371 3,167,991 229,316 3,739,984 70,462
2011 Base2012201320142015201620172018201920202021202220232024202520262027202820292030203120322033203420352036Total:Contra Costa County RDA Model - Attachment F - Opt-In Allocation of Tax-Sharing Payments - All Project AreasAcalanes Union HighCanyon ElementaryLafayette ElementaryMoraga ElementaryOrinda ElementaryWC ElementaryCounty Superintendent K-12 ERAFJ Swett GeneralWest Contra Costa Unified Mt Diablo Pitt UnifiedComm CollegeComm College ERAF Total$39,279 $36 $6,089 $3,796 $4,600 $32,041 $59,531 $205,062 $35,171 $93,440 $281,683 $8,201 $80,524 $30,534 $2,381,289$417,707 $380 $64,753 $40,363 $48,921 $340,736 $216,101 $1,582,259 $284,796 $630,416 $1,768,824 $30,217 $674,991 $235,603 $7,909,421$129,949 $118 $20,145 $12,557 $15,219 $106,003 $101,609 $526,052 $89,151 $210,336 $633,408 $13,263 $287,776 $78,330 $4,068,883$139,144 $127 $21,570 $13,446 $16,296 $113,504 $108,902 $567,588 $99,340 $225,247 $679,364 $14,254 $309,239 $84,515 $4,392,477$148,510 $135 $23,022 $14,351 $17,393 $121,144 $116,335 $609,897 $109,721 $240,435 $726,171 $15,264 $331,110 $90,815 $4,722,277$155,196 $141 $24,058 $14,997 $18,176 $126,598 $122,349 $638,682 $112,028 $255,907 $766,230 $16,293 $348,965 $95,101 $4,983,563$172,227 $157 $26,698 $16,642 $20,171 $140,491 $131,670 $699,301 $122,929 $270,091 $834,613 $17,352 $377,131 $104,128 $5,429,266$209,834 $191 $32,528 $20,276 $24,575 $171,168 $145,862 $809,053 $134,047 $288,131 $958,548 $18,431 $421,864 $120,470 $6,176,835$217,894 $198 $33,778 $21,055 $25,519 $177,743 $151,149 $843,347 $140,990 $302,577 $996,721 $19,202 $437,891 $125,577 $6,440,086$226,310 $206 $35,082 $21,869 $26,505 $184,608 $156,676 $879,391 $148,073 $319,546 $1,036,178 $19,988 $454,700 $130,944 $6,717,577$234,868 $214 $36,409 $22,696 $27,507 $191,589 $162,742 $918,865 $155,297 $343,930 $1,080,783 $20,996 $473,511 $136,821 $7,037,066$243,628 $222 $37,767 $23,542 $28,533 $198,735 $168,639 $956,537 $162,665 $365,097 $1,122,013 $21,822 $491,519 $142,431 $7,338,050$252,564 $230 $39,152 $24,405 $29,580 $206,024 $174,807 $996,593 $170,181 $386,687 $1,168,507 $22,871 $510,587 $148,395 $7,660,684$261,678 $238 $40,565 $25,286 $30,647 $213,459 $181,098 $1,037,450 $177,848 $408,709 $1,215,930 $23,940 $530,036 $154,479 $7,989,770$270,975 $247 $42,006 $26,185 $31,736 $221,042 $187,514 $1,079,124 $185,667 $431,171 $1,264,301 $25,031 $549,875 $160,684 $8,325,435$280,457 $255 $43,476 $27,101 $32,847 $228,777 $194,056 $1,121,598 $193,643 $454,083 $1,313,546 $26,139 $570,095 $167,009 $8,667,633$290,129 $264 $44,976 $28,035 $33,979 $236,667 $200,975 $1,166,990 $203,955 $477,453 $1,363,890 $27,275 $591,329 $173,767 $9,027,680$299,995 $273 $46,505 $28,989 $35,135 $244,715 $208,033 $1,213,289 $214,474 $501,290 $1,415,241 $28,434 $612,988 $180,662 $9,394,929$310,058 $282 $48,065 $29,961 $36,313 $252,923 $215,231 $1,260,515 $225,202 $525,604 $1,467,619 $29,615 $635,081 $187,694 $9,769,523$320,322 $292 $49,656 $30,953 $37,516 $261,296 $222,574 $1,308,685 $236,146 $550,405 $1,521,044 $30,821 $657,615 $194,866 $10,151,609$330,791 $301 $51,279 $31,965 $38,742 $269,836 $230,063 $1,357,819 $247,308 $575,701 $1,575,538 $32,050 $680,600 $202,182 $10,541,336$341,470 $311 $52,934 $32,997 $39,992 $278,547 $237,702 $1,407,935 $258,693 $601,504 $1,631,122 $33,304 $704,045 $209,645 $10,938,858$352,363 $321 $54,623 $34,049 $41,268 $287,433 $245,494 $1,459,053 $270,307 $627,822 $1,687,817 $34,583 $727,958 $217,256 $11,344,331$363,473 $331 $56,345 $35,123 $42,569 $296,496 $253,442 $1,511,194 $282,152 $654,667 $1,745,647 $35,888 $752,350 $225,020 $11,757,912$374,805 $341 $58,102 $36,218 $43,896 $305,740 $261,548 $1,564,378 $294,234 $682,048 $1,804,633 $37,219 $777,229 $232,939 $12,179,766$386,364 $352 $59,894 $37,335 $45,250 $315,169 $269,817 $1,618,625 $306,558 $709,978 $1,864,799 $38,576 $802,607 $241,017 $12,610,0576,730,712 6,129 1,043,391 650,395 788,289 5,490,441 4,664,387 27,134,221 4,825,405 11,038,833 31,642,487 632,829 13,711,092 4,040,350 205,575,025
Contra Costa County RDA Model - Attachment F - Opt-Out (34183) Allocation of Tax-Sharing Payments - All Project AreasCounty General FundCounty Library DistrictCounty Fire Protection District S/A L100 CSA M 17County Flood ControlCounty Flood Control Z3BCounty Flood Control Z8A S/A P6Rodeo Hercules fireCounty Water AgencyCounty Resource ConservationMosquito AbatementRodeo SanitationCentral Sanitation2011 Base $257,954 $26,020 $675,424 $15,292 $661 $3,054 $6,527 $670 $20,132 $247,801 $623 $239 $8,733 $9,981 $12,5492012 $3,074,390 $311,168 $3,064,263 $193,330 $17,031 $36,523 $92,401 $17,338 $234,940 $791,448 $7,444 $2,280 $38,534 $258,158 $112,9862013 $826,311 $82,409 $1,153,520 $25,383 $1,678 $9,677 $33,482 $2,792 $61,597 $323,829 $1,977 $712 $14,791 $41,565 $65,3262014 $955,515 $95,387 $1,306,933 $32,132 $2,747 $11,201 $37,237 $3,143 $71,544 $351,400 $2,287 $826 $16,475 $46,796 $73,1772015 $1,081,245 $108,030 $1,457,042 $39,025 $3,747 $12,685 $40,828 $3,533 $81,223 $380,560 $2,590 $935 $18,130 $52,605 $80,3802016 $1,172,506 $117,289 $1,580,556 $45,743 $4,860 $13,772 $42,828 $3,900 $88,381 $409,296 $2,812 $1,009 $19,437 $58,072 $83,2732017 $1,278,786 $128,048 $1,717,556 $53,058 $5,990 $15,034 $45,331 $4,302 $96,679 $439,492 $3,069 $1,096 $20,909 $64,051 $87,3352018 $1,617,479 $161,566 $2,044,740 $60,128 $7,060 $18,971 $59,030 $4,720 $121,931 $470,587 $3,874 $1,425 $24,766 $70,285 $122,1382019 $1,688,611 $168,695 $2,127,312 $63,551 $8,157 $19,808 $61,220 $4,887 $127,391 $484,688 $4,045 $1,487 $25,711 $72,771 $126,8932020 $1,767,179 $176,581 $2,216,588 $67,721 $9,811 $20,734 $63,554 $5,113 $133,423 $500,862 $4,234 $1,551 $26,739 $76,124 $131,8362021 $1,843,164 $184,204 $2,303,430 $71,742 $11,317 $21,629 $65,792 $5,324 $139,257 $516,758 $4,416 $1,613 $27,743 $79,270 $136,7072022 $1,903,730 $190,242 $2,370,970 $74,483 $12,157 $22,338 $67,765 $5,511 $143,812 $532,032 $4,561 $1,664 $28,586 $82,050 $141,7372023 $1,982,015 $198,090 $2,457,411 $78,333 $12,923 $23,259 $70,235 $5,767 $149,771 $549,779 $4,749 $1,730 $29,623 $85,875 $146,9272024 $2,058,782 $205,782 $2,544,533 $82,072 $13,799 $24,162 $72,598 $5,975 $155,642 $566,106 $4,934 $1,797 $30,647 $88,966 $152,1182025 $2,141,803 $214,104 $2,638,216 $86,041 $14,602 $25,139 $75,180 $6,194 $161,997 $583,011 $5,133 $1,869 $31,742 $92,233 $157,6322026 $2,230,288 $222,989 $2,738,210 $90,555 $15,426 $26,183 $77,805 $6,430 $168,807 $600,620 $5,346 $1,947 $32,899 $95,733 $163,0472027 $2,316,412 $231,624 $2,835,431 $94,703 $16,271 $27,196 $80,489 $6,666 $175,397 $618,467 $5,553 $2,022 $34,036 $99,252 $168,6962028 $2,400,456 $240,046 $2,930,054 $98,758 $17,138 $28,185 $83,115 $6,906 $181,813 $636,653 $5,755 $2,095 $35,154 $102,832 $174,3712029 $2,424,740 $242,330 $2,987,584 $95,922 $18,117 $28,454 $85,040 $6,536 $183,612 $635,122 $5,810 $2,132 $35,637 $97,316 $180,1902030 $2,513,390 $251,213 $3,086,999 $100,186 $19,024 $29,497 $87,824 $6,794 $190,376 $654,288 $6,023 $2,209 $36,814 $101,153 $186,1722031 $2,604,394 $260,335 $3,188,974 $104,643 $19,953 $30,568 $90,651 $7,061 $197,326 $673,999 $6,241 $2,287 $38,020 $105,140 $192,2092032 $2,703,324 $270,230 $3,297,954 $109,039 $20,906 $31,730 $93,866 $7,320 $204,853 $693,634 $6,479 $2,374 $39,313 $108,993 $199,4002033 $2,797,671 $279,686 $3,404,813 $113,562 $21,883 $32,840 $96,814 $7,579 $212,068 $713,486 $6,705 $2,456 $40,564 $112,842 $205,6872034 $2,876,712 $287,563 $3,494,931 $116,285 $22,884 $33,765 $99,946 $7,868 $217,941 $734,590 $6,894 $2,519 $41,656 $117,158 $212,1692035 $2,974,520 $297,360 $3,605,234 $120,864 $23,818 $34,915 $103,044 $8,135 $225,408 $755,180 $7,129 $2,604 $42,954 $121,133 $218,8502036 $3,691,292 $367,890 $4,228,815 $127,200 $24,873 $43,201 $134,822 $8,424 $278,327 $776,701 $8,824 $3,334 $50,606 $125,426 $304,097Total:52,924,717 5,292,863 64,782,069 2,144,459 346,170 621,466 1,860,895 158,218 4,003,518 14,392,587 126,883 45,975 781,487 2,355,798 3,823,352
2011 Base2012201320142015201620172018201920202021202220232024202520262027202820292030203120322033203420352036Total:Contra Costa County RDA Model - Attachment F - Opt-Out (34183) Allocation of Tax-Sharing Payments - All Project AreasWest SanitationDelta Diablo Z1 Z2Los Medanos HospitalMount Diablo HospitalWest County HospitalAlamo Cemetery Ambrose RecPleasant Hill Recreation County Water EBMUD AC Transit BARTBay Area Air MgmtE Bay Regional ParkWalnut Creek Service Area$4,108 $42,201 $11,256 $586 $7,507 $94 $35,073 $19,720 $5,933 $7,366 $14,480 $11,011 $3,209 $52,348 $751$108,071 $152,687 $40,725 $5,273 $196,172 $845 $126,896 $177,550 $37,983 $192,398 $381,867 $131,669 $38,362 $626,001 $6,762$20,106($8,482) ($2,262)$3,049 $34,738 $489($7,050)$102,654 $15,389 $34,086 $74,793 $34,873 $10,167 $165,797 $3,910$22,407 $5,893 $1,572 $3,415 $38,688 $547 $4,897 $114,992 $18,284 $37,962 $81,148 $40,365 $11,768 $191,906 $4,380$24,780 $19,781 $5,276 $3,751 $42,914 $601 $16,440 $126,311 $20,987 $42,108 $87,960 $45,715 $13,327 $217,343 $4,811$27,218 $33,654 $8,976 $3,886 $47,077 $623 $27,969 $130,857 $22,637 $46,192 $94,735 $49,633 $14,469 $235,970 $4,984$29,796 $48,896 $13,042 $4,076 $51,554 $653 $40,637 $137,241 $24,665 $50,583 $102,025 $54,186 $15,795 $257,615 $5,227$32,269 $59,944 $15,988 $5,700 $56,010 $914 $49,818 $191,932 $33,921 $54,964 $109,052 $68,371 $19,933 $325,053 $7,310$33,816 $65,886 $17,573 $5,922 $58,259 $949 $54,757 $199,403 $35,486 $57,172 $112,370 $71,388 $20,812 $339,396 $7,595$35,816 $71,695 $19,123 $6,153 $61,165 $986 $59,585 $207,171 $37,089 $60,023 $116,065 $74,725 $21,785 $355,261 $7,890$37,575 $77,896 $20,777 $6,380 $63,773 $1,023 $64,738 $214,825 $38,700 $62,582 $119,190 $77,951 $22,726 $370,598 $8,182$38,165 $81,818 $21,823 $6,615 $65,130 $1,060 $67,998 $222,730 $40,196 $63,915 $119,395 $80,506 $23,471 $382,746 $8,483$39,662 $87,550 $23,352 $6,857 $67,818 $1,099 $72,762 $230,885 $41,854 $66,553 $123,347 $83,827 $24,439 $398,534 $8,794$41,039 $94,306 $25,154 $7,099 $70,122 $1,138 $78,377 $239,043 $43,581 $68,813 $126,556 $87,082 $25,388 $414,010 $9,104$42,597 $101,626 $27,106 $7,357 $72,693 $1,179 $84,460 $247,708 $45,426 $71,336 $130,658 $90,604 $26,414 $430,753 $9,434$44,337 $110,719 $29,531 $7,609 $75,530 $1,220 $92,017 $256,217 $47,367 $74,121 $135,423 $94,364 $27,510 $448,630 $9,758$46,023 $118,058 $31,489 $7,873 $78,312 $1,262 $98,117 $265,094 $49,246 $76,850 $139,922 $98,018 $28,575 $466,002 $10,097$47,556 $124,994 $33,339 $8,138 $80,941 $1,305 $103,881 $274,012 $51,104 $79,431 $143,763 $101,582 $29,614 $482,945 $10,436$48,258 $120,163 $32,050 $8,409 $79,748 $1,348 $99,866 $283,156 $52,198 $78,263 $144,058 $102,549 $29,897 $487,541 $10,784$49,903 $127,259 $33,943 $8,688 $82,574 $1,393 $105,764 $292,556 $54,142 $81,035 $148,240 $106,308 $30,993 $505,413 $11,142$51,601 $134,815 $35,958 $8,970 $85,500 $1,438 $112,043 $302,042 $56,131 $83,907 $152,574 $110,168 $32,118 $523,766 $11,504$53,248 $142,300 $37,955 $9,306 $88,323 $1,492 $118,264 $313,343 $58,396 $86,678 $156,647 $114,356 $33,339 $543,674 $11,934$55,061 $150,191 $40,059 $9,599 $91,321 $1,539 $124,822 $323,222 $60,469 $89,620 $161,314 $118,357 $34,505 $562,699 $12,310$57,113 $148,153 $39,516 $9,902 $94,722 $1,587 $123,128 $333,408 $61,914 $92,957 $166,860 $121,690 $35,477 $578,545 $12,698$58,903 $156,113 $41,639 $10,214 $97,743 $1,637 $129,744 $343,907 $64,088 $95,922 $171,542 $125,837 $36,686 $598,257 $13,098$60,781 $164,307 $43,825 $14,192 $100,938 $2,275 $136,554 $477,867 $85,478 $99,085 $176,272 $155,686 $45,395 $740,163 $18,2001,106,101 2,390,219 637,529 178,432 1,881,763 28,604 1,986,484 6,008,124 1,096,732 1,846,556 3,475,776 2,239,810 652,966 10,648,619 228,829
2011 Base2012201320142015201620172018201920202021202220232024202520262027202820292030203120322033203420352036Total:Contra Costa County RDA Model - Attachment F - Opt-Out (34183) Allocation of Tax-Sharing Payments - All Project AreasAcalanes Union HighCanyon ElementaryLafayette ElementaryMoraga ElementaryOrinda ElementaryWC ElementaryCounty Superintendent K-12 ERAFJ Swett GeneralWest Contra Costa Unified Mt Diablo Pitt UnifiedComm CollegeComm College ERAF Total$39,279 $36 $6,089 $3,796 $4,600 $32,041 $59,531 $205,062 $35,171 $93,440 $281,683 $8,201 $80,524 $30,534 $2,381,289$353,650 $322 $54,823 $34,174 $41,419 $288,483 $344,167 $2,331,565 $909,721 $2,459,973 $1,585,568 $29,672 $1,049,439 $347,174 $20,305,643$204,471 $186 $31,697 $19,758 $23,947 $166,793 $123,852 $676,940 $146,470 $464,203 $512,029($1,648)$345,329 $100,799 $5,942,131$229,045 $209 $35,506 $22,133 $26,825 $186,839 $138,225 $782,649 $164,904 $513,492 $637,952 $1,145 $391,730 $116,539 $6,832,218$251,591 $229 $39,001 $24,311 $29,466 $205,230 $152,434 $885,052 $185,376 $564,760 $756,411 $3,844 $437,211 $131,787 $7,701,370$260,646 $237 $40,405 $25,187 $30,526 $212,617 $163,574 $955,307 $204,638 $617,029 $838,682 $6,540 $472,283 $142,248 $8,362,535$273,361 $249 $42,376 $26,415 $32,016 $222,989 $176,122 $1,038,398 $225,709 $672,541 $936,477 $9,502 $512,134 $154,621 $9,119,635$382,297 $348 $59,263 $36,942 $44,774 $311,851 $209,733 $1,338,658 $247,676 $725,852 $1,274,378 $11,649 $623,016 $199,331 $11,285,648$397,179 $362 $61,570 $38,380 $46,517 $323,991 $217,720 $1,396,976 $256,437 $757,307 $1,339,081 $12,804 $648,442 $208,014 $11,770,792$412,650 $376 $63,969 $39,875 $48,329 $336,611 $226,518 $1,461,305 $268,254 $796,941 $1,404,806 $13,933 $676,271 $217,593 $12,304,012$427,896 $390 $66,332 $41,348 $50,114 $349,048 $235,072 $1,524,030 $279,340 $831,585 $1,471,562 $15,138 $703,358 $226,933 $12,821,427$443,643 $404 $68,773 $42,870 $51,959 $361,892 $242,320 $1,578,368 $289,136 $841,737 $1,530,129 $15,900 $725,625 $235,024 $13,233,469$459,886 $419 $71,291 $44,439 $53,861 $375,142 $251,246 $1,643,577 $302,614 $873,465 $1,597,599 $17,014 $753,551 $244,734 $13,762,656$476,136 $434 $73,810 $46,009 $55,764 $388,398 $259,936 $1,707,551 $313,506 $901,925 $1,669,367 $18,327 $781,070 $254,259 $14,285,217$493,394 $449 $76,486 $47,677 $57,785 $402,476 $269,219 $1,775,984 $325,021 $934,940 $1,746,194 $19,749 $810,611 $264,449 $14,848,683$510,344 $465 $79,113 $49,315 $59,770 $416,302 $278,980 $1,847,906 $337,355 $972,127 $1,829,611 $21,516 $841,965 $275,159 $15,450,569$528,024 $481 $81,854 $51,023 $61,841 $430,725 $288,643 $1,918,688 $349,752 $1,007,963 $1,907,648 $22,943 $872,628 $285,698 $16,035,064$545,787 $497 $84,607 $52,740 $63,922 $445,214 $298,179 $1,988,655 $362,368 $1,040,099 $1,984,222 $24,291 $902,710 $296,116 $16,605,779$564,001 $514 $87,431 $54,500 $66,055 $460,072 $301,792 $2,008,535 $342,933 $1,052,260 $2,012,786 $23,352 $913,955 $299,077 $16,794,089$582,723 $531 $90,333 $56,309 $68,247 $475,345 $311,841 $2,082,273 $356,453 $1,086,857 $2,092,600 $24,731 $945,628 $310,056 $17,395,240$601,620 $548 $93,263 $58,135 $70,461 $490,759 $322,139 $2,157,829 $370,503 $1,122,604 $2,174,799 $26,199 $978,124 $321,307 $18,012,626$624,128 $568 $96,752 $60,310 $73,097 $509,119 $333,171 $2,241,024 $384,078 $1,157,037 $2,266,376 $27,654 $1,013,114 $333,695 $18,678,792$643,807 $586 $99,803 $62,212 $75,401 $525,172 $343,817 $2,318,927 $397,643 $1,195,270 $2,352,071 $29,187 $1,046,816 $345,295 $19,319,752$664,095 $605 $102,948 $64,172 $77,778 $541,722 $353,618 $2,385,459 $412,853 $1,238,996 $2,397,875 $28,791 $1,075,744 $355,201 $19,850,410$685,007 $624 $106,189 $66,193 $80,227 $558,780 $364,669 $2,466,635 $426,862 $1,276,874 $2,487,161 $30,338 $1,110,686 $367,289 $20,514,012$951,833 $867 $147,553 $91,977 $111,477 $776,438 $431,178 $3,120,086 $441,987 $1,316,306 $3,235,905 $31,930 $1,334,818 $464,591 $24,951,79511,967,214 10,897 1,855,150 1,156,404 1,401,578 9,762,010 6,638,165 43,632,376 8,301,592 24,422,143 42,041,290 464,499 19,966,259 6,496,989 366,183,566
Contra Costa County RDA Model - Attachment F - Opt-Out (34188) Allocation of Tax-Sharing Payments - All Project AreasCounty General FundCounty Library DistrictCounty Fire Protection District S/A L100 CSA M 17County Flood ControlCounty Flood Control Z3BCounty Flood Control Z8A S/A P6Rodeo Hercules fireCounty Water AgencyCounty Resource ConservationMosquito AbatementRodeo SanitationCentral Sanitation2011 Base $257,954 $26,020 $675,424 $15,292 $661 $3,054 $6,527 $670 $20,132 $247,801 $623 $239 $8,733 $9,981 $12,5492012 $3,123,515 $316,454 $2,625,932 $206,552 $16,997 $37,142 $90,664 $18,598 $238,827 $606,600 $7,569 $2,276 $33,070 $276,915 $106,3002013 $939,800 $93,991 $750,254 $38,517 $1,655 $11,036 $34,988 $4,131 $70,110 $134,723 $2,253 $770 $9,824 $61,502 $67,3192014 $1,077,162 $107,806 $868,846 $46,311 $2,719 $12,657 $38,794 $4,572 $80,687 $149,130 $2,584 $889 $11,268 $68,078 $75,1642015 $1,211,218 $121,305 $983,441 $54,270 $3,713 $14,242 $42,437 $5,055 $91,008 $164,863 $2,907 $1,002 $12,678 $75,260 $82,3622016 $1,311,261 $131,466 $1,070,793 $62,107 $4,820 $15,434 $44,497 $5,520 $98,841 $180,058 $3,150 $1,081 $13,740 $82,197 $85,2592017 $1,425,719 $143,066 $1,170,457 $70,532 $5,949 $16,796 $47,032 $6,018 $107,771 $196,285 $3,428 $1,173 $14,952 $89,605 $89,2532018 $1,780,756 $178,271 $1,468,288 $79,656 $7,009 $20,931 $60,711 $6,534 $134,357 $213,131 $4,273 $1,516 $18,631 $97,295 $123,8442019 $1,855,883 $185,810 $1,534,536 $83,599 $8,094 $21,816 $62,927 $6,749 $140,123 $220,134 $4,453 $1,579 $19,419 $100,492 $128,5972020 $1,938,491 $194,111 $1,607,120 $88,298 $9,733 $22,790 $65,286 $7,023 $146,464 $229,068 $4,652 $1,645 $20,286 $104,570 $133,5362021 $2,018,434 $202,141 $1,676,728 $92,848 $11,223 $23,733 $67,547 $7,284 $152,599 $237,578 $4,845 $1,709 $21,125 $108,455 $138,4032022 $2,083,136 $208,604 $1,726,811 $96,140 $12,056 $24,492 $69,542 $7,521 $157,471 $245,321 $4,999 $1,762 $21,801 $111,990 $143,4302023 $2,165,572 $216,878 $1,795,373 $100,546 $12,814 $25,463 $72,036 $7,830 $163,746 $255,384 $5,198 $1,831 $22,665 $116,584 $148,6162024 $2,246,574 $225,005 $1,864,259 $104,852 $13,682 $26,417 $74,422 $8,090 $169,940 $263,874 $5,392 $1,899 $23,515 $120,459 $153,8042025 $2,333,913 $233,770 $1,939,341 $109,399 $14,477 $27,446 $77,028 $8,363 $176,625 $272,785 $5,602 $1,974 $24,431 $124,527 $159,3142026 $2,426,804 $243,109 $2,020,363 $114,503 $15,292 $28,543 $79,678 $8,653 $183,770 $282,240 $5,826 $2,055 $25,406 $128,844 $164,7252027 $2,517,365 $252,199 $2,098,232 $119,244 $16,129 $29,610 $82,385 $8,944 $190,700 $291,731 $6,044 $2,132 $26,356 $133,176 $170,3702028 $2,605,935 $261,086 $2,173,116 $123,904 $16,987 $30,653 $85,036 $9,240 $197,462 $301,392 $6,257 $2,207 $27,285 $137,587 $176,0412029 $2,634,835 $263,844 $2,210,511 $121,685 $17,958 $30,978 $86,986 $8,927 $199,613 $291,166 $6,323 $2,246 $27,574 $132,918 $181,8562030 $2,728,194 $273,211 $2,289,390 $126,578 $18,856 $32,077 $89,797 $9,243 $206,736 $301,464 $6,548 $2,325 $28,552 $137,619 $187,8332031 $2,824,001 $282,827 $2,370,417 $131,677 $19,776 $33,206 $92,650 $9,570 $214,053 $312,128 $6,778 $2,406 $29,557 $142,488 $193,8662032 $2,927,830 $293,225 $2,458,032 $136,728 $20,720 $34,427 $95,891 $9,889 $221,955 $322,536 $7,027 $2,495 $30,644 $147,239 $201,0522033 $3,027,174 $303,195 $2,543,096 $141,919 $21,687 $35,597 $98,867 $10,209 $229,551 $332,977 $7,266 $2,580 $31,686 $152,005 $207,3352034 $3,111,312 $311,595 $2,610,985 $145,323 $22,678 $36,584 $102,026 $10,562 $235,814 $344,481 $7,468 $2,646 $32,564 $157,257 $213,8122035 $3,214,320 $321,926 $2,698,613 $150,596 $23,603 $37,797 $105,153 $10,893 $243,678 $355,279 $7,715 $2,734 $33,643 $162,186 $220,4882036 $3,936,394 $393,001 $3,299,067 $157,640 $24,647 $46,146 $136,959 $11,246 $297,002 $366,813 $9,424 $3,466 $41,073 $167,451 $305,731Total:57,465,597 5,757,893 47,854,003 2,703,422 343,275 676,012 1,903,340 210,664 4,348,902 6,871,141 137,983 48,399 601,745 3,136,699 3,858,308
2011 Base2012201320142015201620172018201920202021202220232024202520262027202820292030203120322033203420352036Total:Contra Costa County RDA Model - Attachment F - Opt-Out (34188) Allocation of Tax-Sharing Payments - All Project AreasWest SanitationDelta Diablo Z1 Z2Los Medanos HospitalMount Diablo HospitalWest County HospitalAlamo Cemetery Ambrose RecPleasant Hill Recreation County Water EBMUD AC Transit BARTBay Area Air MgmtE Bay Regional ParkWalnut Creek Service Area$4,108 $42,201 $11,256 $586 $7,507 $94 $35,073 $19,720 $5,933 $7,366 $14,480 $11,011 $3,209 $52,348 $751$107,866 $175,190 $46,727 $4,961 $201,931 $795 $145,598 $167,043 $37,878 $198,044 $381,143 $133,905 $39,012 $636,633 $6,362$19,974 $10,132 $2,703 $3,142 $40,952 $504 $8,421 $105,786 $17,140 $40,180 $74,334 $39,774 $11,595 $189,097 $4,029$22,266 $26,532 $7,077 $3,508 $45,321 $562 $22,050 $118,115 $20,171 $44,467 $80,664 $45,620 $13,299 $216,892 $4,499$24,629 $42,487 $11,332 $3,844 $49,974 $616 $35,310 $129,426 $23,014 $49,033 $87,450 $51,333 $14,964 $244,049 $4,929$27,056 $58,468 $15,595 $3,979 $54,596 $638 $48,592 $133,978 $24,808 $53,565 $94,199 $55,632 $16,216 $264,490 $5,103$29,627 $75,852 $20,232 $4,165 $59,520 $668 $63,040 $140,255 $26,964 $58,395 $101,463 $60,541 $17,647 $287,829 $5,342$32,086 $93,491 $24,936 $5,780 $64,427 $927 $77,699 $194,611 $36,616 $63,219 $108,462 $75,440 $21,992 $358,659 $7,412$33,619 $100,384 $26,775 $6,001 $66,890 $962 $83,428 $202,081 $38,246 $65,636 $111,752 $78,630 $22,922 $373,828 $7,697$35,601 $107,163 $28,583 $6,232 $70,011 $999 $89,062 $209,842 $39,913 $68,698 $115,420 $82,143 $23,946 $390,527 $7,992$37,334 $114,320 $30,492 $6,459 $72,829 $1,035 $95,010 $217,491 $41,589 $71,463 $118,478 $85,541 $24,936 $406,683 $8,283$37,902 $119,250 $31,807 $6,694 $74,403 $1,073 $99,107 $225,391 $43,152 $73,008 $118,613 $88,276 $25,734 $419,686 $8,584$39,375 $125,978 $33,601 $6,936 $77,313 $1,112 $104,699 $233,539 $44,877 $75,864 $122,495 $91,778 $26,754 $436,332 $8,895$40,729 $133,750 $35,674 $7,178 $79,843 $1,151 $111,158 $241,692 $46,672 $78,346 $125,631 $95,217 $27,757 $452,683 $9,205$42,263 $142,105 $37,903 $7,435 $82,644 $1,192 $118,102 $250,351 $48,587 $81,095 $129,660 $98,926 $28,838 $470,318 $9,535$43,978 $152,255 $40,610 $7,688 $85,717 $1,232 $126,537 $258,854 $50,598 $84,110 $134,349 $102,878 $29,990 $489,105 $9,859$45,640 $160,672 $42,855 $7,951 $88,732 $1,275 $133,532 $267,724 $52,550 $87,069 $138,771 $106,725 $31,111 $507,395 $10,197$47,147 $168,707 $44,998 $8,216 $91,600 $1,317 $140,211 $276,635 $54,481 $89,884 $142,534 $110,485 $32,208 $525,273 $10,536$47,823 $164,997 $44,009 $8,487 $90,651 $1,361 $137,127 $285,773 $55,650 $88,955 $142,749 $111,653 $32,549 $530,824 $10,884$49,441 $173,237 $46,207 $8,766 $93,725 $1,405 $143,976 $295,166 $57,671 $91,971 $146,849 $115,617 $33,704 $549,668 $11,242$51,113 $181,959 $48,533 $9,048 $96,904 $1,450 $151,224 $304,646 $59,738 $95,091 $151,100 $119,686 $34,890 $569,014 $11,603$52,732 $190,635 $50,847 $9,383 $99,986 $1,504 $158,435 $315,939 $62,083 $98,115 $155,088 $124,086 $36,173 $589,935 $12,033$54,517 $199,739 $53,275 $9,676 $103,247 $1,551 $166,001 $325,812 $64,237 $101,315 $159,669 $128,305 $37,403 $609,992 $12,409$56,540 $198,940 $53,062 $9,978 $106,917 $1,600 $165,336 $335,990 $65,766 $104,916 $165,126 $131,860 $38,439 $626,892 $12,797$58,301 $208,162 $55,522 $10,290 $110,212 $1,650 $173,001 $346,482 $68,024 $108,150 $169,718 $136,232 $39,714 $647,678 $13,196$60,149 $217,644 $58,051 $14,268 $113,687 $2,287 $180,882 $480,434 $89,500 $111,587 $174,357 $166,312 $48,490 $790,680 $18,2981,097,706 3,342,049 891,405 180,064 2,122,030 28,865 2,777,538 6,063,055 1,169,925 2,082,175 3,450,073 2,436,596 710,284 11,584,163 230,921
2011 Base2012201320142015201620172018201920202021202220232024202520262027202820292030203120322033203420352036Total:Contra Costa County RDA Model - Attachment F - Opt-Out (34188) Allocation of Tax-Sharing Payments - All Project AreasAcalanes Union HighCanyon ElementaryLafayette ElementaryMoraga ElementaryOrinda ElementaryWC ElementaryCounty Superintendent K-12 ERAFJ Swett GeneralWest Contra Costa Unified Mt Diablo Pitt UnifiedComm CollegeComm College ERAF Total$39,279 $36 $6,089 $3,796 $4,600 $32,041 $59,531 $205,062 $35,171 $93,440 $281,683 $8,201 $80,524 $30,534 $2,381,289$332,722 $303 $51,578 $32,151 $38,968 $271,411 $306,842 $2,378,344 $975,820 $2,455,300 $1,623,647 $34,045 $978,585 $354,139 $19,824,354$210,709 $192 $32,664 $20,361 $24,678 $171,882 $91,352 $784,928 $216,725 $461,220 $606,588 $1,969 $291,460 $116,879 $5,820,242$235,267 $214 $36,471 $22,734 $27,554 $191,914 $103,768 $898,085 $239,901 $510,301 $740,935 $5,156 $334,241 $133,728 $6,697,981$257,796 $235 $39,963 $24,911 $30,193 $210,291 $115,981 $1,008,088 $265,210 $561,356 $867,993 $8,257 $376,031 $150,108 $7,554,563$266,863 $243 $41,369 $25,787 $31,255 $217,688 $125,120 $1,086,396 $289,655 $613,409 $959,115 $11,362 $407,429 $161,768 $8,204,601$279,365 $254 $43,307 $26,995 $32,719 $227,887 $135,548 $1,176,943 $315,758 $668,752 $1,065,299 $14,741 $443,292 $175,250 $8,945,686$387,634 $353 $60,091 $37,457 $45,399 $316,205 $167,526 $1,490,509 $342,857 $721,785 $1,428,981 $18,168 $552,651 $221,941 $11,152,517$402,512 $367 $62,397 $38,895 $47,141 $328,341 $174,359 $1,552,548 $354,123 $752,957 $1,497,646 $19,508 $576,009 $231,179 $11,631,042$417,972 $381 $64,794 $40,389 $48,952 $340,952 $181,977 $1,620,648 $368,495 $792,256 $1,567,396 $20,825 $601,719 $241,319 $12,157,279$433,207 $394 $67,155 $41,861 $50,736 $353,379 $189,315 $1,687,133 $382,186 $826,343 $1,638,126 $22,216 $626,592 $251,219 $12,666,461$448,942 $409 $69,595 $43,382 $52,579 $366,215 $195,329 $1,745,378 $394,640 $835,998 $1,700,878 $23,174 $646,633 $259,892 $13,070,800$465,173 $424 $72,111 $44,950 $54,480 $379,455 $202,993 $1,814,522 $410,829 $867,219 $1,772,481 $24,482 $672,267 $270,187 $13,591,655$481,411 $438 $74,628 $46,519 $56,382 $392,701 $210,394 $1,882,509 $424,486 $895,163 $1,848,465 $25,992 $697,447 $280,311 $14,105,718$498,658 $454 $77,302 $48,186 $58,402 $406,770 $218,364 $1,955,036 $438,822 $927,651 $1,929,592 $27,616 $724,604 $291,110 $14,660,516$515,595 $469 $79,927 $49,822 $60,385 $420,586 $226,786 $2,031,135 $454,032 $964,301 $2,017,396 $29,588 $753,525 $302,442 $15,253,561$533,262 $486 $82,666 $51,530 $62,455 $434,998 $235,074 $2,106,115 $469,299 $999,588 $2,099,907 $31,224 $781,689 $313,606 $15,828,714$551,013 $502 $85,418 $53,245 $64,534 $449,477 $243,209 $2,180,364 $484,841 $1,031,166 $2,181,045 $32,785 $809,221 $324,662 $16,389,900$569,214 $518 $88,239 $55,004 $66,665 $464,325 $245,393 $2,204,612 $468,391 $1,042,756 $2,214,263 $32,064 $817,866 $328,273 $16,568,491$587,923 $535 $91,139 $56,812 $68,856 $479,586 $253,983 $2,282,805 $484,956 $1,076,771 $2,298,826 $33,666 $846,887 $339,916 $17,159,729$606,806 $553 $94,067 $58,636 $71,068 $494,989 $262,794 $2,362,906 $502,112 $1,111,925 $2,385,867 $35,361 $876,678 $351,843 $17,767,002$629,300 $573 $97,554 $60,810 $73,702 $513,338 $272,309 $2,450,736 $518,855 $1,145,752 $2,482,384 $37,047 $908,908 $364,921 $18,422,854$648,965 $591 $100,602 $62,710 $76,006 $529,380 $281,408 $2,533,367 $535,650 $1,183,369 $2,573,118 $38,816 $939,796 $377,225 $19,053,294$669,239 $609 $103,745 $64,669 $78,380 $545,918 $289,630 $2,604,723 $554,156 $1,226,465 $2,624,061 $38,661 $965,853 $387,850 $19,573,221$690,136 $628 $106,984 $66,689 $80,827 $562,964 $299,071 $2,690,818 $571,527 $1,263,700 $2,718,589 $40,453 $997,867 $400,670 $20,225,878$956,947 $871 $148,345 $92,471 $112,076 $780,610 $363,939 $3,349,287 $590,081 $1,302,477 $3,472,680 $42,296 $1,219,012 $498,719 $24,652,49712,076,628 10,996 1,872,111 1,166,977 1,414,392 9,851,262 5,392,463 47,877,936 11,053,407 24,237,979 46,315,276 649,472 17,846,263 7,129,158360,978,554
990051\1\999994.7
Oakland Los Angeles San Diego
SUMMARY OF ENACTED STATE
BUDGET LEGISLATION
REGARDING REDEVELOPMENT
(ABX1 26 AND ABX1 27)
UPDATED JULY 20,2011
The laws described below could be impacted by proposed cleanup legislation and
other bills described in this summary. Goldfarb & Lipman intends to update this
summary as appropriate, but please contact us to get the most up-to-date
information on the status and content of this legislation.
Goldfarb & Lipman LLP 510 836 6336
www.goldfarblipman.com 213 627 6336
619 239 6336
goldfarb & lipman llp
i
990051\1\999994.7
Table of Contents
PART A.INTRODUCTION AND PURPOSE ....................................................1
I.Introduction and Overview of Redevelopment Restructuring
Acts .....................................................................................................1
II.Litigation ...............................................................................................2
III.Additional Potential Redevelopment Legislation .................................3
PART B.DISSOLUTION ACT ...........................................................................4
I.Introduction ...........................................................................................4
II.Suspension of RDA Activities and Preservation of RDA Assets
and Revenues .........................................................................................4
III.Permitted and Required RDA Activities Prior to Dissolution ..............6
IV.Treatment of Agreements between a RDA and its Sponsoring
Community or Other Public Agency/Public Entity ..............................7
V.Dissolution of RDAs/Creation of Successor Agencies .........................9
VI.Transfer of Housing Functions of Former RDA ...................................9
VII.Role of Successor Agencies ................................................................10
VIII.Oversight Boards .................................................................................12
IX.Role of County Auditor-Controller .....................................................13
X.Payments from Trust Fund ..................................................................13
XI.Miscellaneous ......................................................................................15
PART C.ALTERNATIVE VOLUNTARY REDEVELOPMENT
PROGRAM ACT ................................................................................16
I."Alternative Voluntary Redevelopment Program" Opt-In..................16
II.Sources and Uses of Remittances .......................................................16
III.Calculation of FY 2011-2012 Remittances .........................................18
IV.Calculation of FY 2012-2013 Remittances .........................................19
V.Calculation of Remittances for FY 2013-2014 and Beyond ...............20
VI.Sanctions for Failure to Make Remittances ........................................21
VII.Miscellaneous ......................................................................................21
PART D.KEY MILESTONES FOR IMPLEMENTATION OF
REDEVELOPMENT RESTRUCTURING ACTS .............................22
I.Milestones Related To Voluntary Program Act ..................................22
II.Milestones Related To Dissolution Act ..............................................23
1
990051\1\999994.7
PART A.INTRODUCTION AND PURPOSE
I.Introduction and Overview of Redevelopment Restructuring Acts
Governor Brown has now signed several budget trailer bills to implement the State
Budget for Fiscal Year (FY) 2011-2012 that was approved by the Legislature and
sent to the Governor on the evening of June 28, 2011.
Among the signed trailer bills are two addressing redevelopment that significantly
modify the California Community Redevelopment Law (the "CRL"): ABx1 26
(the "Dissolution Act") and ABx1 27 (the "Voluntary Program Act"; and together
with the Dissolution Act, the "Redevelopment Restructuring Acts").1 If upheld
against anticipated constitutional challenge, the Redevelopment Restructuring Acts
will fundamentally alter the future of California redevelopment.
Working in tandem:
(1) The Dissolution Act immediately suspends all new redevelopment
activities and incurrence of indebtedness,2 and dissolves redevelopment
agencies ("RDAs") effective October 1, 2011; and
(2) The Voluntary Program Act allows RDAs to avoid dissolution under
the Dissolution Act by opting into an "alternative voluntary redevelopment
program" (the "Voluntary Program") requiring specified substantial annual
contributions to local school and special districts. If all RDAs were to opt-in
to the Voluntary Program, these contributions would amount to $1.7 Billion
for FY 2011-2012 and appear intended to amount to $400 Million in each
succeeding year (subject to certain adjustments described below).
Following this Part A overview, this summary describes the Dissolution Act (Part
B) and the Voluntary Program Act (Part C), and concludes with a schedule of key
dates set forth in the Redevelopment Restructuring Acts (Part D).
1 The Governor signed the Redevelopment Restructuring Acts before midnight on June 28. The Redevelopment
Restructuring Acts were chaptered by the Secretary State on June 29 as Chapter 5 and Chapter 6 of the 2011-2012
First Extraordinary Session. On June 30 the Governor signed the main budget bill (SB 87) and certain other budget
trailer bills acted upon by the Legislature. Under these circumstances, there is uncertainty among legal experts as to
whether the effective date of the Redevelopment Restructuring Acts is the date the Governor signed the acts (June
28) or the date the Governor signed the main budget bill to which the Redevelopment Restructuring Acts are related
trailer bills (June 30). It is the view of the California Redevelopment Association that the Redevelopment
Restructuring Acts became effective on the date the Governor signed the main budget bill.
2 It is highly questionable under the "contract clauses" of the Federal and State Constitutions whether the Dissolution
Act could be retroactive to 12:01 a.m. of its effective date, thereby purporting to render invalid contracts entered into
by a RDA earlier in the day on which the Dissolution Act becomes effective.
2
990051\1\999994.7
II.Litigation
On July 18, 2011, the California Redevelopment Association, the League of
California Cities, the Cities of Union City and San Jose, and John Shirey (in his
individual capacity as a taxpayer) (collectively, the "Petitioners") challenged in
court the validity and constitutionality of the Redevelopment Restructuring Acts on
numerous grounds, including that the acts violate the following provisions of the
California Constitution:
Article XIIIA, Section 25.5 , which prohibits city or county property tax
from being used for schools, indirect allocation of tax increment to schools,
transit districts and fire protection districts and city and county property tax
from being transferred to special districts without a 2/3 vote;
Article XIII, Section 24, which prohibits the Legislature from restricting the
use of taxes imposed by local governments for their local purposes; and
Article XIIIB, which prohibits the use of property tax to fund state
mandates.
The Petitioners have requested to have their lawsuit heard initially by the
California Supreme Court to accelerate the ultimate court decision, and to seek a
court "stay" or injunction to prevent the Redevelopment Restructuring Acts from
being operative in part pending the final court decision on the merits of the lawsuit.
Goldfarb & Lipman will monitor and provide information to clients regarding the
major steps in this anticipated litigation.
Given the complexity and magnitude of impact of the Redevelopment
Restructuring Acts, it is also highly likely that these acts will engender litigation
from additional individual RDAs regarding the constitutionality and applicability
of various provisions of the acts to the litigating RDA's individual situation.
3
990051\1\999994.7
III.Additional Potential Redevelopment Legislation
The Voluntary Program Act itself states the legislative intent to enact legislation
later in the current legislative session to address the RDA special payment formula
for fiscal years after the FY 2011-2012 Budget, as described further below.
In addition, a number of "clean-up" provisions to the Redevelopment
Restructuring Acts have been suggested by various legislators and interest groups.
Some of the more commonly mentioned "clean-up" suggestions are noted in the
following analysis.
Finally, separate from the Redevelopment Restructuring Acts, but also important to
the future of California Redevelopment for those RDAs that opt-in to the
Voluntary Program and continue to operate, the following key bills have been
introduced in the 2011 legislative session:
SB 450 (Lowenthal), which would enact major reforms to the affordable
housing provisions of the CRL;3 and
SB 286 (Wright) and AB 1250 (Alejo), similar legislation that would
address major CRL reforms related to non-housing redevelopment activities
and the adoption of future redevelopment plans.4
Goldfarb & Lipman will continue to carefully monitor and provide timely
information regarding the progress of these various legislative actions that could
affect the CRL for RDAs that choose to opt-in to continued existence under the
Voluntary Program.
3 SB 450 was passed out of the Senate on June 2, 2011 by a 39-0 vote. SB 450 was passed out of the Assembly
Committee on Housing and Community Development on June 29, 2011 by a 7-0 vote and has been sent to the
Assembly Committee on Appropriations.
4 SB 286 is being held in the Senate Committee on Governance and Finance and AB 1250 has been sent to the
Assembly Committee on Rules.
4
990051\1\999994.7
PART B.DISSOLUTION ACT
I.Introduction
As detailed in this Part B, the Dissolution Act:
Immediately suspends and prohibits most redevelopment activities;5
Dissolves RDAs as of October 1, 2011 (unless a RDA opts in to continued
existence under the Voluntary Program);
Creates successor agencies (“Successor Agency” or “Successor Agencies”)
and oversight boards (“Oversight Board” or “Oversight Boards”) to continue
to satisfy enforceable obligations of a former RDA, and administer the
dissolution and wind down of each dissolved RDA; and
Establishes roles for the County-Auditor Controller, the Department of
Finance and the State Controller’s Office in the dissolution process and
satisfaction of enforceable obligations of former RDAs.
II.Suspension of RDA A ctivities and Preservation
of RDA A ssets and Revenues
Upon effectiveness of the Dissolution Act, a RDA is generally no longer
authorized to:
Incur new indebtedness or other obligations or restructure existing
indebtedness and other obligations;
Make loans or grants;
Enter into contracts;
Amend existing agreements, obligations or commitments;
Renew or extend leases or other agreements;
5 This suspension will become permanent on the dissolution date of October 1, 2011 for RDAs not participating in
the Voluntary Program, and will be lifted for RDAs that opt-in to continued existence under the Voluntary Program
upon enactment of the Sponsoring Community’s opt-in ordinance (see Part C.I). See also footnotes 1and 2.
5
990051\1\999994.7
Transfer funds out of the Low and Moderate Income Housing Fund;
Dispose of or transfer assets;
Acquire real property in most circumstances;
Prepare, adopt, amend or merge redevelopment plans;
Approve any program, project or expenditure;
Prepare or amend implementation plans, relocation plans or other
planning documents;
Cause development or rehabilitation of housing units;
Join a joint powers authority;
Form or join a separate legal entity;
Bring a validation action in connection with issuance of revenue bonds;
Commence an eminent domain proceeding;
Prepare a draft EIR;
Undertake various affordable housing activities;
Accept financial assistance; or
Increase employee compensation, bonuses or number of RDA employees
and officials.
According to the Dissolution Act, this suspension and prohibition of most
redevelopment activities is intended, to the maximum extent possible, to preserve
the revenues and assets of RDAs so that those assets and revenues that are not
needed to pay for enforceable obligations may be used by local governments to
fund core governmental services including police and fire protection services and
schools.
6
990051\1\999994.7
III.Permitted and Required RDA A ctivities Prior to Dissolution
Until October 1, 2011 (when RDAs are dissolved unless they opt-in to continued
existence under the Voluntary Program), a RDA is authorized to:
Make scheduled payments on and perform obligations required under its
"Enforceable Obligations,"6 which include:
o Bonds;
o Loans borrowed by a RDA;
o Payments required by federal or state government or for employee
pension obligations;
o Judgments or settlements;
o Legally binding and enforceable agreements or contracts that are "not
otherwise void as violating the debt limit or public policy"; and
o Contracts for administration or operation of the RDA.
Set aside reserves as required for bonds;
Preserve all assets and records and minimize RDA obligations and
liabilities;
Cooperate with its Successor Agency and auditing entities (as described
below); and
Avoid triggering defaults under Enforceable Obligations.
In addition, during this suspension period the Dissolution Act requires each RDA
to:
Prepare an Enforceable Obligation Payment Schedule no later than late
August, 2011, setting forth specified information about the RDA’s
Enforceable Obligations;
6 With one exception, "Enforceable Obligations" are defined in the same way during the suspension period and the
post-dissolution period. During the suspension period, the definition of "Enforceable Obligations" does not exclude
agreements between a RDA and its Sponsoring Community (although asset transfers under such agreements may be
subject to unwinding), while following dissolution most types of agreements between a RDA and its Sponsoring
Community are excluded from the definition of "Enforceable Obligations" (see further discussion in Section IV
below).
7
990051\1\999994.7
Adopt the Enforceable Obligation Payment Schedule at a public meeting;
Post the Enforceable Obligation Payment Schedule on the RDA’s or its
Sponsoring Community’s website;
Transmit the Enforceable Obligation Payment Schedule by mail or
electronic means to the County Auditor-Controller, the State Controller
and the Department of Finance;7
Designate an RDA official to whom the department8 may make
information requests;
Prepare a preliminary draft of the initial Recognized Obligation Payment
Schedule and deliver such schedule to the Successor Agency; and
Produce documents associated with Enforceable Obligations upon
request of the State Controller or Department of Finance.
The Department of Finance may review a RDA action or Successor Agency action
pursuant to an Enforceable Obligation Payment Schedule or a Recognized
Obligation Payment Schedule, and such actions will not be effective for three
business days, pending a request for review by the department. If the department
requests a review of a given RDA action, the department shall have ten days from
the date of its request to approve the RDA action or return it to the RDA for
reconsideration.9
IV.Tr eatment of Agreements between a RDA and its Sponsoring
Community or Other Public Agency/Public Entity
With limited exceptions, the Dissolution Act expressly states that Enforceable
Obligations to be paid by Successor Agencies do not include agreements, contracts
or arrangements between a RDA and the city, the county or the city and county
that created the RDA (the “Sponsoring Community”), and that such agreements,
7 Notification providing the Website location of the Payment Schedule will suffice to meet this requirement.
8 It is unclear whether the reference in the Dissolution Act to the “department” is intended to refer to the California
Department of Housing and Community Development (which is the normal meaning of that term in the CRL) or,
more likely, to the Department of Finance which is the department to which responsibilities are given under the
Dissolution Act.
9 It appears difficult to reconcile the Dissolution Act’s requirement that RDAs continue to pay scheduled
Enforceable Obligations with the provision that payments under a Payment Schedule are not effective for 3 business
days.
8
990051\1\999994.7
contracts or arrangements are invalid and not binding on Successor Agencies upon
dissolution of the RDA. These provisions do not apply to the following
agreements, which may be deemed Enforceable Obligations and binding upon
Successor Agencies:
A duly authorized written agreement entered into at the time of issuance, but
in no event later than December 31, 2010, of bonds, notes, certificates of
participation or other similar indebtedness, and solely for the purpose of
securing or repaying such indebtedness;
A written agreement between a RDA and its Sponsoring Community that
provided loans or other startup funds for the RDA that was entered into
within two years of the formation of the RDA; or
A joint exercise of powers agreement in which the RDA is a member of the
joint powers authority.10
Beginning upon effectiveness of the Dissolution Act, the State Controller is
directed to review RDA activities and determine whether an asset transfer has
occurred after January 1, 2011 between the RDA and its Sponsoring Community or
other public agency. If the State Controller determines that such an asset transfer
did occur and the recipient has not contractually committed such assets to a third
party to expend or otherwise encumber those assets, such assets will be ordered
returned to the RDA or Successor Agency for payment of recognized obligations
or distribution as property taxes.
In any instance where the Oversight Board has found that early termination would
be in the best interest of the taxing entities, the Dissolution Act directs Oversight
Boards to ensure that Successor Agencies terminate any agreement between the
former RDA and any local public entity within the same county that obligates the
former RDA to provide funding for debt service obligations of such local public
entity or for the construction or operation of facilities owned or operated by such
local public entity.
10 However, upon assignment to the Successor Agency by operation of the Dissolution Act, the Successor Agency's
rights, duties and performance obligations under that joint exercise of powers agreement will be limited by the
constraints imposed on Successor Agencies by the Dissolution Act.
9
990051\1\999994.7
V.Dissolution of RDAs/Creation of Successor Agencies
For each RDA that has not opted in to the Voluntary Program, under the
Dissolution Act, as of October 1, 2011:
The RDA will be dissolved; and
A Successor Agency will be created for each RDA.
The Successor Agency will be the Sponsoring Community of the RDA unless it
elects not to serve in that capacity. In that case, the Successor Agency will be the
first taxing entity submitting to the County Auditor-Controller a duly adopted
resolution electing to become the Successor Agency.
The actions of the Successor Agency will be monitored, and in some cases
approved, by the Oversight Board as described in Section VIII below.
All assets, properties, contracts, leases, records, buildings and equipment of former
RDAs would be transferred to the control of the Successor Agency, except as
described in Section VII below for affordable housing assets.
VI.Tr ansfer of Housing Functions of Former RDA
The Sponsoring Community may elect to assume the housing functions and take
over the housing assets of the former RDA, excluding amounts in the former
RDA's Low and Moderate Income Housing Fund,11 along with related rights,
powers, liabilities, duties and obligations.12
If the Sponsoring Community does not elect to assume the former RDA's housing
functions, such housing functions and all related assets would be transferred to the
local Housing Authority (or Department of Housing and Community
Development, if there is no local Housing Authority).
The entity that assumes the housing functions of former RDA will be able to use its
inherent powers (not limited by the Dissolution Act's restrictions on Successor
11 Clean up legislation has been proposed, but not yet introduced, to reverse this provision so that existing Low and
Moderate Income Housing Fund deposits would be transferred to the Sponsoring Community (as was the case in the
predecessor bill to the Dissolution Act).
12 However, in what is believed to be inadvertent drafting, the Dissolution Act makes it less clear how the former
RDA's housing assets, such as property, would be transferred.
10
990051\1\999994.7
Agencies) to fulfill housing obligations and will be able to exercise Redevelopment
Law housing powers to fulfill such obligations.
The Dissolution Act requires Successor Agencies to repay amounts previously
borrowed from the Low and Moderate Income Housing Fund (i.e. to make SERAF
payments in prior years), repayment of which had been deferred as of the effective
date. These repaid funds would presumably be paid to the entity that assumes the
housing functions of the former RDA.
The Dissolution Act requires Oversight Boards to direct Successor Agencies to list
amounts owed to the Low and Moderate Income Housing Fund on the Recognized
Obligation Payment Schedule.
VII.Role of Successor Agencies
The Dissolution Act requires a Successor Agency to perform the following
functions.
A Successor Agency is required to make payments and perform other obligations
due for Enforceable Obligations13 of the former RDA, which include:
Bonds;
Loans borrowed by the RDA (including amounts borrowed in past years
from the Low and Moderate Income Housing Fund);
Payments required by federal or state government or for employee
pension obligations;
Judgments or settlements; and
Legally binding and enforceable agreements or contracts14 that are "not
otherwise void as violating the debt limit or public policy" (at Oversight
Board direction, a Successor Agency may terminate existing agreements
and pay required compensation or remediation for such termination).
13 With one exception described in footnote 6 above, “Enforceable Obligations” are defined in the same way during
the post-dissolution period and during the suspension period.
14 See Section IV above regarding the exception that most contracts between a former RDA and its Sponsoring
Community will be void and will not constitute an Enforceable Obligation upon dissolution of the RDA.
11
990051\1\999994.7
To facilitate this payment of Enforceable Obligations, a Successor Agency is
required to prepare a Recognized Obligation Payment Schedule for each six month
period of each fiscal year, including identifying the funding source for all
Enforceable Obligations of the former RDA.
A Successor Agency is required to dispose of the former RDA’s assets or
properties expeditiously and in a manner aimed at maximizing value (proceeds to
be distributed similar to normal property tax proceeds).15
A Successor Agency is required to effectuate the transfer of housing functions of
the former RDA to its Sponsoring Community (or applicable Housing Authority or
the Department of Housing and Community Development).
A Successor Agency is required to wind up all other affairs of the former RDA.
A Successor Agency is required to prepare administrative budgets for Oversight
Board approval and pay administrative costs. Subject to the approval of the
Oversight Board, the Successor Agency’s annual administrative costs will be an
amount up to five percent of the property tax allocated to the Successor Agency for
FY 2011-12 and up to three percent of the property tax allocated to the Successor
Agency each succeeding fiscal year; provided, however, that the annual amount
shall not be less than $250,000 for any fiscal year (or such lesser amount as agreed
to by the Successor Agency).
15 The Oversight Board may direct the Successor Agency to transfer ownership of those assets that were constructed
and used for a governmental purpose to the appropriate public jurisdiction pursuant to any existing agreements
related to the construction or use of such asset.
12
990051\1\999994.7
VIII.Oversight Boards
An Oversight Board is generally intended to supervise the activities of the
Successor Agency. The Oversight Board has a fiduciary responsibility to holders
of Enforceable Obligations and the taxing entities that benefit from distributions of
property tax and other revenues as described in Section X below.
The Oversight Board of the Successor Agency will consist of 7 members appointed
by/representing:16 17
County Board of Supervisors (two members);
Mayor (one member);
County Superintendent of Education (one member);
Chancellor of California Community Colleges (one member);
Largest special district taxing entity (one member); and
A former RDA employee appointed by Mayor/Board of Supervisors (one
member).
The Dissolution Act requires the Oversight Board to direct the Successor Agency
to determine whether contracts, agreements or other arrangements between the
former RDA and private parties should be terminated or renegotiated to reduce the
Successor Agency's liabilities and to increase net revenues to the taxing entities.
The actions of the Oversight Board of each Successor Agency will in turn be
overseen by the Director of the Department of Finance and may be subject to
disapproval or modification.
Oversight Board actions will not be effective for three business days pending a
request for review by the Department of Finance. If the department requests a
review of a given Oversight Board action, the department shall have ten days from
the date of its request to approve the Oversight Board action or return it to the
16 Different rules apply for the composition of the Oversight Board for the former RDA of a city and county (i.e., the
City and County of San Francisco).
17 Commencing July 1, 2016, all of the Oversight Boards for the various former RDAs in a particular county will be
consolidated into a single county-wide Oversight Board of specified composition.
13
990051\1\999994.7
Oversight Board for reconsideration. The Oversight Board has specified
obligations with respect to maintaining a Website and providing specified
notification to various state officials.
IX.Role of County Auditor-Controller
The Dissolution Act requires the County Auditor-Controller to:
By March 1, 2012, conduct an audit of former RDA assets and liabilities,
including pass-through payment obligations and the amount and terms of
any RDA indebtedness, and provide the State Controller’s Office with a
copy of such audit by March 15, 2012;
Annually determine the amount of property tax increment that would
have been allocated to the RDA and deposit that amount in a
Redevelopment Property Tax Trust Fund (the "Trust Fund"); and
Administer the Trust Fund for the benefit of holders of former RDA debt,
taxing entities that receive pass-through payments and distributions of
property taxes, as described in Section X below.
Actions of the County Auditor-Controller will not be effective for three business
days pending a request for review by the State Controller. If the department
requests a review of a given County Auditor-Controller action, the department will
have ten days from the date of its request to approve the County Auditor-Controller
action or return it to the County Auditor-Controller for reconsideration.
X.Payments from Trust Fund
The Dissolution Act requires the County Auditor-Controller to allocate moneys in
the Trust Fund established for each former RDA as follows:
To pay pass-through payments to affected taxing entities in the amounts
that would have been owed had the former RDA not been dissolved;
To the Successor Agency to enable the Successor Agency to pay
Enforceable Obligations of the former RDA, including bonds;
To the Successor Agency to pay for administrative costs under the
administrative budget approved by the Oversight Board; and
14
990051\1\999994.7
Any remaining balance in the Trust Fund, to school entities and other
local taxing entities as property taxes.
If a Successor Agency determines, and the County Auditor-Controller and the
State Controller verify, that the Successor Agency will not have sufficient funds to
pay all amounts above, then the deficiencies shall be deducted in the following
order from the Trust Fund payments to:
School entities and local agencies (as normal property taxes);
Administrative costs of the Successor Agency;
Pass-through payments to school entities and local entities that have been
subordinated to the payment of Enforceable Obligations;
Enforceable Obligations payable by the Successor Agency; and
Non-subordinated pass-through payments to school entities and local
entities.
The Dissolution Act allows statutory pass-through payments received by school
districts, community college districts and offices of education between FY 2011-
2012 and FY 2015-2016 to be used for land acquisition, construction,
reconstruction, remodeling, maintenance or deferred maintenance of educational
facilities.
15
990051\1\999994.7
XI.Miscellaneous
The Dissolution Act clarifies that community development commissions may
continue their housing authority and other local community development functions
(other than redevelopment) unaffected by the Act.
The Dissolution Act provides that a former RDA's obligations to its employees
pursuant to a collective bargaining agreement become Enforceable Obligations of
the Successor Agency. An employee's civil service status and classification remain
the same for a minimum of two years.
The Dissolution Act includes a provision lengthening the period to challenge RDA
actions taken after January 1, 2011 from ninety days to two years.
The Dissolution Act requires that any action contesting the validity of portions of
the Dissolution Act or challenging acts taken pursuant to the Dissolution Act be
brought in the Sacramento County Superior Court.
If any legal challenge to invalidate a provision of the Dissolution Act is successful,
a RDA shall be prohibited from issuing new bonds, notes, interim certificates,
debentures or other obligations, whether funded, refunded, assumed or otherwise
pursuant to the financing provisions of the CRL.
The Dissolution Act appropriates $500,000 to the Department of Finance for
allocation to the State Controller, State Treasurer and Director of Finance to
undertake the duties listed above.
If a RDA is dissolved pursuant to the Dissolution Act, the Sponsoring Community
may not establish a new RDA until all debts of the dissolved RDA have been
retired by the applicable Successor Agency, and the Sponsoring Community has
enacted an ordinance agreeing to make the payments required under the Voluntary
Program.
16
990051\1\999994.7
PART C.ALTERNATIVE VOLUNTARY
REDEVELOPMENT PROGRAM ACT
I."Alternative Vo luntary Redevelopment Program" Opt-In
To avoid being dissolved and to lift the suspension of new redevelopment activities
and indebtedness under the Dissolution Act, a RDA and its Sponsoring
Community may elect to continue operating under the current CRL if they make
specified substantial payments ("Remittances") to their County Auditor-Controller
beginning in FY 2011-2012 and in all succeeding years the RDA's redevelopment
program continues to operate.
To avoid dissolution, by November 1, 2011, the RDA's Sponsoring Community
must enact an ordinance in which it agrees to comply with the Voluntary Program
by making the Remittances and must notify the Department of Finance, the State
Controller and the County Auditor-Controller of its agreement to comply with the
Voluntary Program.
If the Sponsoring Community does not enact such an ordinance before October 1,
2011, but intends to do so by November 1, it must, prior to October 1, indicate that
intention by adopting a non-binding resolution of intent and notifying the
Department of Finance, the State Controller and the County Auditor-Controller.
Once a Sponsoring Community enacts the appropriate opt-in ordinance, its RDA
will no longer be subject to the provisions of the Dissolution Act and may
immediately recommence normal redevelopment activities under the CRL, such as
entering into contracts, disposing of assets and incurring new indebtedness and
obligations.18
II.Sources and Uses of Remittances
The Remittances are technically required to be made by a RDA's Sponsoring
Community on behalf of the RDA. Remittances may be made from any available
funds of the Sponsoring Community, including funds made available by its RDA,
as follows:
A RDA and its Sponsoring Community may enter into an agreement
whereby the RDA transfers a portion of its tax increment to the
Sponsoring Community in an amount not-to-exceed the required annual
18 If the Sponsoring Community subsequently fails to make a required Remittance, its RDA will then become
subject to the Dissolution Act again and will be dissolved (see Section VI. below).
17
990051\1\999994.7
Remittance for the purpose of financing activities within a redevelopment
area that are related to accomplishing the RDA's project goals;19
For FY 2011-2012 only, a RDA will be exempt from making its full
deposit into the Low and Moderate Income Housing Fund (and not
required to repay unmade deposits20), but only to the extent that it makes
a finding that there are insufficient other monies to meets its debt and
other obligations, current priority program needs or its obligations to
reimburse the Sponsoring Community for that year's Remittance;
The Remittances payable by a Sponsoring Community and its RDA
participating in the Voluntary Program are due in equal installments each
fiscal year by January 15 and May 15; and
By November 1 of each year commencing in 2012, a Sponsoring
Community must notify the Department of Finance, the State Controller
and the County Auditor-Controller of the Remittance amount for the
applicable fiscal year. Those entities may audit and verify the
Remittance amount, and if it is determined that a Sponsoring Community
has miscalculated the Remittance amount, the next Remittance amount
will be adjusted accordingly. County Auditor-Controller costs for
overseeing this process are subject to reimbursement by the Sponsoring
Community.
Remittances received by the County Auditor-Controller from a participating
RDA/Sponsoring Community are to be distributed as follows:
Through a special district allocation fund, a minor portion of FY 2011-
2012 Remittances (and thereafter 15% of annual Remittances) would be
distributed to special districts that provide fire protection services to the
participating RDA's project area(s) and transit districts that serve the
participating RDA's project area(s); and
19 The Voluntary Program Act does not provide an exemption for amounts paid by a RDA towards Remittances
against any dollar cap limitations on the participating RDA’s receipt of tax increment.
20 There may be clean-up legislation to require RDAs to repay any Low and Moderate Income Housing Fund
proceeds used to make payments under the Voluntary Program.
18
990051\1\999994.7
Through the Educational Revenue Augmentation Fund, the balance of all
Remittances would be distributed to school entities21 that serve the
participating RDA's project area(s).
III.Calculation of FY 2011-2012 Remittances
The Voluntary Program Act is designed to generate $1.7 Billion for FY 2011-2012
if every Sponsoring Community/RDA agrees to participate in the Voluntary
Program.
The formula for calculating each Sponsoring Community/RDA's FY 2011-2012
Remittance is similar, but not identical, to the formula used to calculate each
RDA's share of the statewide $1.7 Billion Special Educational Revenue
Augmentation Fund ("SERAF") obligations in FY 2009-2010.
For FY 2011-2012, the Voluntary Program Act formula works as follows:
First, each participating RDA's share of statewide net tax increment22
revenue for FY 2008-2009 is determined and multiplied by $1.7 Billion
(the "Net Tax Increment Share");
Second, each participating RDA's share of statewide gross tax increment
for FY 2008-2009 is determined and multiplied by $1.7 Billion (the
"Gross Tax Increment Share"); and
Third, each participating RDA's Net Tax Increment Share and Gross Tax
Increment Share are averaged to determine the Sponsoring
Community/RDA's Remittance for FY 2011-2012.
By August 1, 2011 the Department of Finance is directed to specify the required
Remittance amount for FY 2011-2012 to each Sponsoring Community and the
County Auditor-Controller. The Sponsoring Community may appeal the amount
of the Remittance to the Director of Finance by August 15, 2011 on the basis that
the information in the FY 2008-2009 State Controller’s Annual Report was an
error or the percentage of tax increment necessary to pay for tax allocation bonds
21 For FY 2011-2012, such Remittances would count against the State’s Proposition 98 obligations (thereby
providing State general fund relief), but for FY 2012-2013 and beyond, such Remittances would not count against
the State’s Proposition 98 obligations.
22 Net tax increment means the RDA’s gross tax increment less various forms of pass-through payments and
required debt service payments in FY 2008-2009 (the SERAF formula did not net-out debt service payments for this
portion of the formula).
19
990051\1\999994.7
and interest payments have increased by 10 percent or more over the percentage
calculated pursuant to the State Controller’s FY 2008-2009 Annual Report. The
Voluntary Program Act then provides for the Director of the Department of
Finance to resolve such appeals by September 15, 2011 (or up to October 15, 2011
if the Director of the Department of Finance elects to extend the period to decide
the appeal).
IV.Calculation of FY 2012-2013 Remittances
The Voluntary Program Act appears to be designed to generate $400 Million if
every Sponsoring Community/RDA agreed to participate in the Voluntary
Program. However, the FY 2012-2013 formula is complex and appears to be
incorrectly drafted, thereby requiring a certain degree of good-faith interpretation.
The formula is intended to require an RDA to increase its Remittance to account
for the State budget impact of having to backfill foregone school entity property
taxes attributable to new non-housing RDA obligations or indebtedness incurred
on or after November 1, 2011.
For FY 2012-2013, each participating Sponsoring Community/RDA must make a
Remittance equal to the sum of the following two amounts:
Amount 1 equals the Sponsoring Community/RDA's:
(FY 2011-2012 Remittance amount) x (23.52%23) x (FY 2012-2013 Adjusted Tax Increment)
(FY 2011-2012 Year Adjusted Tax Increment)
For the purpose of calculating Amount 1,
“Adjusted Tax Increment” for a given fiscal year means the RDA’s total tax
increment minus the amount of debt service or other payments for new non-
housing fund payable debt or obligations incurred by the RDA on or after
November 1, 2011 (see footnote 25 below).
Amount 2 equals:
(Net School Share) x (New Debt Service) x (Percentage Factor)
For the purposes of calculating Amount 2,
23 This percentage reflects the ratio of $400 Million to $1.7 Billion.
20
990051\1\999994.7
"Net School Share" means the school entities' (defined as "school districts,
community college districts, the educational revenue augmentation fund, and
county superintendents of schools") "share of the property tax increment revenues,
less any pass-through payments to school entities, that would have been received
by the school entities in the absence of redevelopment";24
"New Debt Service" means the debt service or other payments made by the
RDA in FY 2012-2013 for new non-housing fund payable debt or obligations that
are displayed on a RDA’s statement of indebtedness for the first time after the
statement of indebtedness filed on October 1, 2011;25 and
"Percentage Factor" means 80%, or such lesser percentage as may be
determined by subsequent legislation, it being the stated intent of the legislature
under the Voluntary Program Act to enact legislation setting forth reduced
percentages that will apply to bonds issued for the purpose of funding projects that
advance the achievement of statewide goals with respect to transportation, housing,
economic development and job creation, environmental protection and remediation
and climate change, including, projects that are consistent with the Sustainable
Communities Strategies developed pursuant to SB 375.
These definitions also apply to Amount 2 for Remittances for FY 2013-2014 and
beyond; see Section V below.
V.Calculation of Remittances for FY 2013-2014 and Beyond
For FY 2013-2014 and beyond, each participating Sponsoring Community/RDA
must make a Remittance equal to the sum of the following two amounts (terms
used below have the same meaning as defined in Section IV above):
Amount 1 equals the sponsoring community/RDA's:
(Amount 1 for the previous fiscal year) x (Current Fiscal Year Adjusted Tax Increment)
(Previous Fiscal Year Adjusted Tax Increment)
24 This definition appears to combine concepts of percentage shares and absolute dollar amounts in a technically
incompatible fashion, and would benefit from clarification through clean-up legislation.
25 This definition appears to be inconsistent with the operative provision regarding the Amount 2 payment in the
preceding sentence of the Voluntary Program Act, which refers to "debt or obligations issued or incurred on or after
November 1, 2011." Clarification of this apparent inconsistency would be appropriate.
21
990051\1\999994.7
Amount 2 equals:
(Net school share) x (New Debt Service) x (Percentage Factor)
VI.Sanctions for Failure to Make Remittances
If a Sponsoring Community/RDA fails to make a Remittance, the RDA will
become subject to the Dissolution Act and will be dissolved. In addition, by
participating in the Voluntary Program, the Sponsoring Community agrees that,
upon failure to make a timely Remittance, any agreement between the Sponsoring
Community and its RDA to receive RDA funds will be assigned to the State. As a
result, upon a failure to make a timely Remittance, amounts that the Sponsoring
Community might otherwise have received under an agreement with its RDA will
then become payable to the State for purposes of mitigating the fiscal impact to the
State related to the failure of a Sponsoring Community to make required
Remittances.
Any new debts incurred by the RDA or obligations entered into by the RDA on or
after January 1 of the calendar year preceding the year the Sponsoring
Community/RDA fails to make a Remittance would be subject to the same
limitations and sanctions set forth in the Dissolution Act.
VII.Miscellaneous
If any legal challenge to invalidate a provision of the Voluntary Program Act is
successful, a RDA shall be prohibited from issuing new bonds, notes, interim
certificates, debentures or other obligations, whether funded, refunded, assumed or
otherwise pursuant to the financing provisions of the Community Redevelopment
Law.
If a RDA is dissolved pursuant to the Dissolution Act, the Sponsoring Community
may not establish a new RDA until all debts of the dissolved RDA have been
retired by the applicable Successor Agency, and the Sponsoring Community has
enacted an ordinance agreeing to make the Remittances required under the
Voluntary Program.
22
990051\1\999994.7
PART D.KEY MILESTONES FOR IMPLEMENTAT ION
OF REDEVELOPMENT RESTRUCTURING A CTS
I.Milestones Related To Voluntary Program Act
By August 1, 2011: Department of Finance ("DOF") notifies Sponsoring
Community of 2011-2012 Remittance amount.
By August 15, 2011: Sponsoring Community may appeal the amount of
2011-2012 Remittance to DOF director.
Within 60 days after effectiveness of the Dissolution Act: RDA adopts at
public meeting an Enforceable Obligation Payment Schedule for obligations
through December 1, 2011. Posts schedule on website and notifies DOF,
State Controller and County Auditor-Controller. After this date, RDA
permitted to make payments only if listed on Enforceable Obligation
Payment Schedule or if Sponsoring Community has opted into the Voluntary
Program.
By September 15, 2011: DOF director notifies Sponsoring Community and
County Auditor-Controller of the decision on the appeal, unless director
extends deadline to October 15, 2011.
By September 30, 2011: RDA files Statement of Indebtedness.
Before October 1, 2011: Sponsoring Community adopts a non-binding
resolution of intent to opt-in to Voluntary Program if unable to adopt
ordinance to that effect by October 1, 2011, and notifies DOF, State
Controller and County Auditor-Controller of adoption of resolution. This
action delays the dissolution of a RDA until November 1, 2011.
November 1, 2011: Sponsoring Community enacts ordinance to opt-in to
Voluntary Program, and notifies DOF, State Controller and County Auditor-
Controller of adoption of ordinance. (December 1, 2011 if DOF director has
extended time for decision of appeal of Remittance amount.)
Commencing January 15, 2012 and May 15, 2012 and every January 15 and
May 15 thereafter, the Sponsoring Community shall pay one-half of the
Remittance amount for the applicable year. County Auditor-Controller
notifies the DOF director of any failure to make the payment within 30 days
of due date.
23
990051\1\999994.7
November 1, 2012 and each November 1 thereafter, Sponsoring Community
notifies DOF, State Controller and County Auditor-Controller of Remittance
amounts for each fiscal year.
II.Milestones Related To Dissolution Act
Upon effectiveness of the Dissolution Act: State Controller commences review
of RDA asset transfers after January 1, 2011.
Upon effectiveness of the Dissolution Act: Redevelopment activities
suspended except for limited specified activities.
No specified date: State Controller may order the assets improperly
transferred by a RDA to its Sponsoring Community after January 1 to be
returned to the RDA (or to its Successor Agency).
No specified date: RDA informs DOF of a designated contact person and
related contact information for the purpose of communicating with the DOF.
In August 2011: Sponsoring Community decides whether to serve as a
Successor Agency by resolution.
Within 60 days after effectiveness of the Dissolution Act: RDA adopts at
public meeting an Enforceable Obligation Payment Schedule for obligations
through December 1, 2011. Posts schedule on website and notifies DOF,
State Controller and County Auditor-Controller. After this date, RDA
permitted to make payments only if listed on Enforceable Obligation
Payment Schedule.
September 1, 2011: Sponsoring Community that elects not to serve as a
Successor Agency files a copy of resolution to that effect with the County
Auditor-Controller.
No later than September 30, 2011: RDA prepares a preliminary draft of the
initial Recognized Obligation Payment Schedule and provides it to the
Successor Agency.
September 30, 2011: The existing terms of any memorandum of
understanding with an employee organization expires, unless a new
agreement is reached with a recognized employee organization prior to that
date.
24
990051\1\999994.7
By September 30, 2011: RDA files last Statement of Indebtedness.
No specified date but prior to October 1, 2011: Sponsoring Community
decides whether to serve as successor housing entity by resolution.
October 1, 2011: RDA is dissolved if its Sponsoring Community has not
enacted an ordinance opting in to Voluntary Program. (November 1, 2011 if
Sponsoring Community adopted non-binding resolution of intent before
October 1, 2011.)
October 1, 2011: RDA agreements with Sponsoring Community void (with
limited exceptions).
October 1, 2011: All dissolved RDA assets (including properties, contracts,
leases, books and records, buildings and equipment), except housing assets,
transferred to Successor Agency. RDA delivers Enforceable Obligation
Payment Schedule to Successor Agency. Transfer of RDA housing assets
(excluding existing Housing Fund balances) to successor housing entity.
On and after October 1, 2011: Successor Agencies permitted to make
payments only as listed on Enforceable Obligation Payment Schedule.
From October 1, 2011 to July 1, 2012: Successor Agency prohibited from
accelerating payments or making any lump sum payments that are intended
to prepay loans unless such accelerated repayments were required prior to
October 1, 2011.
By November 1, 2011: Successor Agency prepares initial draft of
Recognized Obligation Payment Schedule for the Enforceable Obligations
of the former RDA, subject to review and certification by external auditor as
to accuracy and approval by Oversight Board.
No later than December 1, 2011 and May 1, 2012, and each December 1 and
May 1 thereafter: Successor Agency reports to the County Auditor-State
Controller if the total amount available to the Successor Agency is
insufficient to fund the specified payments in the next six-month fiscal
period. County Auditor-Controller notifies State Controller and DOF no
later than 10 days from the date of that notification from the Successor
Agency.
25
990051\1\999994.7
December 15, 2011: Successor Agency submits first Recognized Obligation
Payment Schedule to State Controller and DOF for the period of January 1,
2012 to June 30, 2012. Successor Agency prepares new Recognized
Obligation Payment Schedule for each six month period thereafter for
approval by Oversight Board. Approved Recognized Obligation Payment
Schedules are posted on Successor Agency website and submitted to DOF,
Controller and County Auditor-Controller.
Commencing on January 1, 2012: Successor Agency may pay only those
payments listed in the approved Recognized Obligation Payment Schedule.
Statements of Indebtedness are no longer recognized for dissolved RDAs.
By January 1, 2012: Oversight Board elects and reports name of chairperson
and other members to DOF.
No specified date but after formation of Oversight Board: Each Oversight
Board informs DOF of a designated contact person and related contact
information for the purpose of communicating with DOF.
January 15, 2012: Governor appoints persons to unfilled positions on
Oversight Board (or any member position that remains vacant for more than
60 days).
No later than January 16, 2012 and June 1, 2012, and each January 16 and
June 1 thereafter: County Auditor-Controller transfers from the
Redevelopment Property Tax Trust Fund of each Successor Agency into the
Redevelopment Obligation Retirement Fund of that Successor Agency, an
amount of property tax revenues equal to that specified in the Recognized
Obligation Payment Schedule. Successor Agency makes payments on listed
Recognized Obligation Payment Schedule from those funds.
By March 1, 2012: County Auditor-Controller completes audit of each
dissolved RDA.
By March 15, 2012: County Auditor-Controller provides the State
Controller copy of all audits performed on dissolved RDAs.
By October 1, 2012: County Auditor-Controller reports specified financial
information to the Controller and DOF.
26
990051\1\999994.7
January 1, 2013: California Law Revision Commission drafts a Community
Redevelopment Law cleanup bill for consideration by the Legislature.
July 1, 2016: Consolidation of all Oversight Boards into one county-wide
Oversight board in each county where more than one Oversight Board was
created.
After July 15, 2016: Governor appoints persons to unfilled positions on
county-wide Oversight Board (or any member position that remains vacant
for more than 60 days).
Agency
Continues
Agency
Dissolves
(34183)
Delta Agency
Dissolves
(34188)
Delta
Tax Increment + Fund
Balance
337 337 0 337 0
Uses of Tax Increment
State Property Tax Admin 33030
Debt Service 103 103 0 103 0
Net Non-Housing Tax
Increment 52 0 52 0 52
Housing Tax Increment 26 0 26 0 26
Project Spending 51 38 13 38 13
Property Taxes Passed
thru or Redistributed to
General Fund 9 27 -18 30 -21
96 161 -65 156 -60
Successor Agency Admin 0 7 -7 9 -9
Total Uses of TI*340 339 1 339 1
Property Taxes Passed
thru or Redistributed to
Special Districts and
Schools
1) Total uses of TI exceed the sources by about $2.1 - $2.6 million depending on the
scenario on account of the deficit in the Bay Point Project Area (i.e. Bay Point spends
more TI than it actually receives)
EXHIBIT C
Disposition of Tax Increment Revenue
(Dollars in $Millions Net Present Value thru 2036)
Board of Supervisors MeetingSeptember 13, 2011Finance Committee Recommendations on Options for County Redevelopment Program
Report OrganizationOverview of the Fiscal ChallengesOverview of the new law“Opt-In” Option“Opt-Out” OptionCash Flow AnalysisFindings and Recommendations
Agency Budget by Project TypePay to Others$3,926,553Debt Repayment$8,956,000Future Debt Reserves$14,224,399Capital Projects$26,782,918Economic Development$11,496,609Housing$12,631,701Planning$664,547Administration$1,838,000Community Improvement$3,582,095
Agency Budgetby Revenue SourceTax Increment, $33,192,523Bonds, $44,894,844Other, $5,015,455
Agency Budgetby Project AreaNorth Richmond$21,564,598Bay Point$15,608,973Rodeo$16,559,341Montalvin Manor$3,097,507Contra Costa Centre$27,272,403
Tax Increment Historyby Project Area$0$1,000,000$2,000,000$3,000,000$4,000,000$5,000,000$6,000,000$7,000,000$8,000,000$9,000,000Contra Costa Centre North Richmond Bay Point Rodeo MontalvinFY 08FY 09FY 10FY 11
Tax Increment History& Projectionsby Project Area02,000,0004,000,0006,000,0008,000,00010,000,00012,000,000Contra Costa Centre North Richmond Bay Point Rodeo MontalvinFY 08FY 09FY 10FY 11FY12FY 13FY 14FY 15FY 16
$0$500,000$1,000,000$1,500,000$2,000,000$2,500,000$3,000,000$3,500,000$4,000,000$4,500,000$5,000,000Fiscal YearBay Point Annual Tax Increment History and ProjectionsFY 08FY 09FY 10FY 11FY 12FY 13FY 14FY 15FY 16
Fiscal PressuresSignificant drop in assessed valuationHigh debtPayments to StateFuture Continuation Payments
Overview of Legislation and LitigationAB x1 26 the Dissolution Act andAB x1 27 the Voluntary Redevelopment Program Act
Dissolution Act: SuspensionImmediate suspension of Agency activities;Adoption of Enforceable Obligation Payment Schedule by 8/29/11;File Statement of Indebtedness by 10/1/11; andDissolution effective 10/1/11, unless continuation ordinance adopted
Dissolution Act: Wind-downContracts between Agency and County invalidated;Successor Agency liquidates assets and pays off Agency’s debts; andOversight Board created to monitor Successor Agency activities, 3 of 7 members appointed by County
Dissolution Act: Wind-downDistribution of Property Taxes:Statutory and Contract Pass-thrus to taxing entitiesEnforceable ObligationsAdministrative FeesTaxing entities as property taxes
Dissolution Act: Wind-downOversight Board has power to order Successor Agency to terminate or renegotiate enforceable obligations; and Oversight board has fiduciary responsibility to both holders of enforceable obligations and to taxing entities
Voluntary Redevelopment ProgramAdopt continuation ordinance prior 10/1/11Make continuation payments to:County ERAF- school entitiesSpecial District Fund- fire and transportation districts
Opt-In OptionFY2011-12 Continuation Payment $5.3MReallocating Funds/Delaying ProjectsReducing ReservesDeferring Payments
Opt-In OptionOngoing annual payments $1.25MSpecial Districts receiving funds:CCFPD, Rodeo-Hercules FDBART and AC TransitWCCUSD, JSUSD, MDUSD, AcalanesCommunity College District
Opt-Out OptionSuccessor Agency takes over Oct. 1.RDA contracts with County become unenforceable obligations.Non-Housing assets sold.Oversight Board reviews enforceable obligations.Funding for blight removal ends.
Overview ofCash Flow Analysis
RDA Financial ModelPFM built a financial model to help the Agency evaluate:The near-term fiscal health of its project areas given recent AV declines.The long-term impact of new state laws on net tax increment for redevelopment.
AssumptionsTax increment (TI) projections prepared by Agency’s fiscal consultant:Gross TI Revenue (assumes 2% growth and 50% reduction in Prop 8 appeals)Pass-Through PaymentsHousing Set AsideBond debt service includes estimated impact of Debt Reduction Plan.
RDA Model Scenarios“Opt-In” ScenarioAgency makes “Continuation Payment” and operates normally.“Opt-Out” Scenarios (Agency dissolves)No “Continuation Payments”.No housing set-aside or non-contractual obligation payments.Net TI distributed to County and other tax-sharing entities.
“Opt-Out” Scenarios:34183 vs 34188RDA model scenarios reflect competing interpretations of AB x1 27.Section 34183: assumes normal pass-thru payments are made before net TI is distributed to County and other entities.Section 34188: assumes no pass-thru payments; all net TI is distributed.Interpretation has substantial impact on net TI funds distributed to County GF.
Agency ContinuesAgency Dissolves(34183)Delta Agency Dissolves(34188)DeltaSources of Tax IncrementTax Increment310 310 0 310 0Fund Balance27 27 0 27 0Total337 337 0 337 0Uses of Tax IncrementState Property Tax Admin33030Debt Service103 103 0 103 0Net Non-Housing Tax Increment52 0 52 0 52Housing Tax Increment26 0 26 0 26Project Spending51 38 13 38 13Property Taxes Passed thru or Redistributed to General Fund9 27 -18 30 -2196 161 -65 156 -60Successor Agency Admin07-79-9Total Uses of TI340 339 1 339 1Property Taxes Passed thru or Redistributed to Special Districts and SchoolsEXHIBIT CDisposition of Tax Increment Revenue(Dollars in $Millions Net Present Value thru 2036)
Tax-Sharing Entity Payments Summary Under Section 34183 special districts retain a higher proportion of net TI.$0$20,000,000$40,000,000$60,000,000$80,000,000$100,000,000$120,000,000$140,000,000$160,000,000$180,000,000$200,000,000Opt-In(2012 - 2036)Opt-Out (34183)(2012 - 2036)Opt-Out (34188)(2012 - 2036)Opt-In(2012 - 2016)Opt-Out (34183)(2012 - 2016)Opt-Out (34188)(2012 - 2016)Distribution of Pass-Throughs and Net TI to Tax-Sharing Entities(Gross $)CountySpecial DistrictsSchools
Dissolution Benefits to special districts and schools varies greatly.Contra Costa County RDA Model – Example Distribution to Tax-Sharing EntitiesCounty Fire Protection DistrictFYE Opt-In Opt-Out (34183) VS Opt-In Opt-Out (34188) VS Opt-In2012 $702,465 $3,064,263 $2,361,798 $2,625,932 $1,923,467 2013 $858,118 $1,153,520 $295,402 $750,254 ($107,864)2014 $926,077 $1,306,933 $380,856 $868,846 ($57,231)2015 $995,377 $1,457,042 $461,666 $983,441 ($11,935)2016 $1,061,327 $1,580,556 $519,230 $1,070,793 $9,467 Total:$4,543,364 $8,562,315 $4,018,951 $6,299,267 $1,755,904 Rodeo Hercules Fire Protection DistrictFYE Opt-In Opt-Out (34183) VS Opt-In Opt-Out (34188) VS Opt-In2012 $247,801 $791,448 $543,647 $606,600 $358,799 2013 $256,175 $323,829 $67,654 $134,723 ($121,452)2014 $276,409 $351,400 $74,991 $149,130 ($127,279)2015 $297,048 $380,560 $83,512 $164,863 ($132,185)2016 $312,929 $409,296 $96,367 $180,058 ($132,871)Total:$1,390,362 $2,256,533 $866,171 $1,235,375 ($154,987)
FindingsAgency can afford Voluntary Program and continue to remove blight.Opt-Out benefits to General Fund & Special Districts are not guaranteed.Action needed now to keep Bay Point and Montalvin Manor solvent.
Recommendations1.Adopt Continuation Ordinance.2.Authorize continuation payments.3.Authorize agreements for Statement of Indebtedness by October 1.4.Authorize study to restructure RDA and update 5-year plans.5.Report on progress implementing the Voluntary Redevelopment Program