Loading...
2010122006 - FY 2009/10 Redevelopment Agency Annual Report�pW N 0 MEETING DATE: 12/20/10 ITEM NO: COUNCIL /AGENCY AGENDA REPORT DATE: December 16, 2010 TO: MAYOR AND TOWN COUNCIL /CHAIR AND MEMBERS OF THE REDEVELOPMENT AGENCY FROM: GREG CARSON, TOWN MANAG ER/EXECUTIVE DIRECTOR SUBJECT: ADOPT RESOLUTION APPROVING THE FY 2009/10 LOS GATOS REDEVELOPMENT AGENCY ANNUAL REPORT RECOMMENDATION Adopt resolution approving the FY 2009/10 Los Gatos Redevelopment Agency Annual Report. DISCUSSION Pursuant to the State of California Health and Safety Code 33080.1, a Redevelopment Agency shall present an annual report to its reporting body within six months of the end of the fiscal year. The report shall contain: (1) an independent financial audit report for the previous fiscal year; (2) a fiscal statement for the previous fiscal year including the Agency's revenues, debts, and the amounts of tax increment to be allocated to other districts; (3) a description of the Agency's activities in the previous fiscal year affecting housing; (4) a description of the Agency's progress in alleviating 'blight during the previous fiscal year; (5) information about loans made by the Agency at or exceeding $50,000 that were in default or otherwise not in compliance with the terms of the loan; (6) a description of the total number and nature of properties owned by the Agency and those acquired during the prior fiscal year; and (7) any other useful information to explain the Agency's programs. The required FY 2009/10 financial audit was completed by C.G. Uhlenberg, LLP (Exhibit A). It includes the auditor's opinion of the Agency's operations and financial position, compliance with laws, regulations, and administrative requirements, including all financial activities involving low and moderate income housing funds. Also attached are the Statement of Housing Activity, Financial Transactions, and Statement of Indebtedness (Exhibits B, C and D). PREPARED BY : Stephen D. Conway Wendie R. Rooney Fiscal Officer Deputy Executive Director Reviewed by: Assistant Town Manager /Deputy Director Town Attorney / General Counsel Clerk Administrator /Secretary Finai e Community Development PAGE 2 MAYOR AND TOWN COUNCIL /CHAIR AND MEMBERS OF THE REDEVELOPMENT AGENCY SUBJECT: ADOPT RESOLUTION APPROVING THE FY 2009/10 LOS GATOS REDEVELOPMENT AGENCY ANNUAL REPORT December 16, 2010 During FY 2009/10, the Los Gatos Redevelopment Agency completed a significant project that resulted in the elimination of blight: The Los Gatos Redevelopment Agency provided fiinding toward the purchase of an existing 9,020 square foot building on Los Gatos Boulevard for police operations services. The building was expanded to 12,260 square feet to include a new Emergency Operations Center and Sally Port. The renovations to the building were completed in Fall 2009. As of June 30, 2010, the RDA Debt Service Fund balance was approximately $7.4 million. This fiend consists of monies dedicated for current and future debt service and represents tax increments received by the Agency, which is then reduced by tax sharing payments and debt service payment made each year. The cash flow assumes that the annual excess tax increments collected beyond the amounts needed to pay annual debt service payments would be used for fixture bonding capacity. The future bonding capacity of the Redevelopment Agency is dependent upon available excess tax. Use of the debt service fund balance would lower future bonding capacity of the Agency. New debt was established in June 2010 to fund the new Library in the amount of $15,675,000. As of June 30, 2010, the Redevelopment (RDA) Capital Projects fund balance was approximately $1.4 million. This fund is used for administrative costs, including staff charges and legal fees, which average about $1 million per year. The fund also holds approximately $146,000 of the remaining 2002 Certificates of Participation (COP) unspent proceeds to be used for eligible capital projects. The remaining will be dedicated to pay for the final downtown street reconstruction project, including the Almond Grove Reconstruction ($78,080) and the Pageant Park Enhancement project ($65,000) which are currently in the design phase. It is anticipated that construction of these projects could be in the range of $2 million. Additionally, the new Police Operations building, which was completed in Fall 2009, was partially funded with the RDA Capital Projects fund. Last year efforts included design, site preparation, construction award, and financing of the new library. Financing the new library results in the Agency's liabilities temporarily exceeding assets, as discussed in Exhibit A. This situation is not uncommon for redevelopment agencies, as they are established to borrow and expend funds which are then repaid with fixture tax increment revenues. The RDA Debt Service Fund balance amounts are also derived from interest earnings and remaining cash from the Town's operating loans to the Agency. Technically, the RDA spends funds by issuing debt and receives an annual cash loan (approximately $500,000- PAGE 3 MAYOR AND TOWN COUNCIL /CHAIR AND MEMBERS OF THE REDEVELOPMENT AGENCY SUBJECT: ADOPT RESOLUTION APPROVING THE FY 2009/10 LOS GATOS REDEVELOPMENT AGENCY ANNUAL REPORT December 16, 2010 $600,000) from the Town General Fund. The loan from the Town is then paid back annually from the RDA Debt Service Fund cash balance. On June 1, 2010, the Town Redevelopment Agency Board committed an additional loan to Santa Clara County Housing Trust in the amount of $300,000 to be made in two (2) payments of $150,000. To date, the total loan amount is $1,222,700. In addition, the RDA also purchased 224 West Main for a mixed use development, which will include low and moderate income housing. Lastly, Dittos Lane was purchased for low and moderate housing and construction will begin in FY 2010/11. As of June 30, 2010, the Housing Set Aside (Low and Moderate Housing) fund balance was approximately $5.4 million, which may only be used for low and moderate housing purposes. As presented in the attached report, the Agency currently has no "excess surplus" calculated for FY 2010/11 due to the purchases of .224 West Main and Dittos Lane. The excess surplus is cumulative from year -to -year and according to State law, must be eliminated within three fiscal years. If the Town does not address any excess surplus within the required timeframe, the Redevelopment Agency could be penalized, limiting its ability to spend and encumber funds. The Redevelopment Agency could also be charged up to 50 %' of the excess surplus amount, which would then be deposited into the Low and Moderate Housing Fund. Supplemerital Educational Revenue Augmentation Fund ( SERAF) In FY 2009/10, State of California tools approximately $2.2 million from the Town Redevelopment Agency to address budget issues related to the SERAF and will take an additional $456,000 in FY 2010/11. In response to the State's actions, the League of California Cities wrote and sponsored Proposition 22, a measure approved by California voters which prohibits the State from taking redevelopment fiends and other local revenue. However, opponents of the initiative are considering sponsoring a future ballot measure that would roll back the provisions of Proposition 22. The Town will continue to monitor redevelopment activities and developments to discourage additional State takes from Redevelopment Agency Tax Increment. It is essential to preserve the RDA. tax increment revenue, as any "take" from this source will reduce the annual revenue stream, potentially impacting the Agency's ability to pay authorized reimbursements with various entities, including the Town. CONCLUSION Upon approval by the Council, the Los Gatos Redevelopment Agency Amoral Report will be forwarded to the State Controller and the State Department of Housing and Community Development as required by State law. PAGE 4 MAYOR AND TOWN COUNCIL /CHAIR AND MEMBERS OF THE REDEVELOPMENT AGENCY SUBJECT: ADOPT RESOLUTION APPROVING THE FY 2009/10 LOS GATOS REDEVELOPMENT AGENCY ANNUAL REPORT December 16, 2010 ENVIRONMENTAL ASSESSMENT Approval of the Redevelopment Agency Annual Report is not a project subject to CEQA. FISCAL IMPACT None ATTACHMENTS: Attachment 1 - Resolution approving the 2009/10 Annual Report for the Los Gatos Redevelopment Agency Exhibit A - Redevelopment Audit for Fiscal Year 2009/10 ■ Exhibit B - Statement of housing Activity for Fiscal Year 2009/10 Exhibit C - Annual Report of Financial Transactions for Fiscal Year 2009/10 ® Exhibit D - Statement of Indebtedness NMINANCE \RDA \Council Reports\2009 -10 RDA Annual Reportdoc RESOLUTION 2010 - RESOLUTION OF THE TOWN COUNCIL /REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS APPROVING THE 2009/10 ANNUAL REPORT FOR THE LOS GATOS REDEVELOPMENT AGENCY WHEREAS: 1. The California Community Redevelopment Law ( §33080.1) requires every redevelopment agency to present a report on financial and housing activity to its legislative body within six months of the end of the agency's fiscal year. 2. The Annual Report for the Redevelopment Agency consists of an independent financial audit report for the previous fiscal year, a fiscal statement for the previous fiscal year, and a description of the agency's activities affecting housing and displacement. The audit to by issued by C.G. Uhlenberg, LLP, attached hereto as Exhibit A, gives an unqualified opinion of the Redevelopment Agency's financial activities includes the auditor's opinion of the agency's operations and financial position, and the agency's compliance with laws, regulations and administrative requirements governing activities of the agency, including all financial activities involving low and moderate income housing funds. 4. The Statement of Housing Activity, Annual Report of Financial Transactions, and Statement of Indebtedness are attached hereto as Exhibits B, C and D, consist of forms provided by the State Department of Housing and Community Development. 5. Approval of the 2009/10 Am1ual Report for the Los Gatos Redevelopment Agency does not constitute a project for purposes of the California Environmental Quality Act (" CEQA") RESOLVED, that the Town Council /Redevelopment Agency hereby approves and adopts the 2009/10 Annu' al Report for the Los Gatos Redevelopment Agency, attached hereto as Exhibits A, B, C and D. ATTACHMENT 1 FURTHER RESOLVED, that the Town Council determines the planning and administrative expenses from the Low and Moderate Income Housing Fund is necessary for the production, improvement, or preservation of low and moderate - income housing. PASSED AND ADOPTED at a regular meeting of'the Town Council of the Town of Los Gatos, California, held on the 20t" day of December 2010 by the following vote: COUNCIL /AGENCY BOARD MEMBERS: AYES: NAYS: ABSENT: ABSTAIN: SIGNED: /s/ MAYOR/CHAIRPERSON OF THE, TOWN OF LOS GATOS LOS GATOS, CALIFORNIA ATTEST: CLERK ADMINISTRATOR TOWN OF LOS GATOS LOS GATOS, CALIFORNIA n Friday, December 17, 2010 THIS PAGE INTENTIONALLY LEFT BLANK O O N M V rn � O =) N LL L � N N Z E tU LL E; (n V) U N fn O O • V O C U N Q o)� LL co Q aa ® G O U J N g � oa J U O O L N , W U c a� a� w E :3 +0 u O z N �CD rn :3 U) �d L- U CD r- .a N E U m to E: N O U U � C i W M N w N w (A Q O 3 F O � O U- N N L V) N •� N w O Q O 0 O U V) d .8 z 0 d Q V) a) N N I° CL x w LO LO O 0 ni Est 0 O 0 C) O rl Eft to En O CJ <t r L Eft O Eft LO El) O d 'cY L Eft 0 Eft N LO O O LO (a M M N O M Lf7 Eft � M F to O O� N A Q �4 Ef) a � U L � N O L37 � N Q O w O Eft w.+ w U N CL N d Z CA 69 L3) y e fn � C O C N Q m m e r y O r d •N ,d' Q •- ' M O CL �f Eft 6 0 � O M C V) (n N O r E U Q N y N O r r � N N O X O CD � W N fU O. N U N C N J C d W N O O. O L I � � N 1 w i p w N C O U Z G �L IL Y N N 7 N V N 3 u 1 � C u O w u c m • L a O 3 O. U V n N U � N J d � 0 'C O 9 ❑. � O 0 V1 E 7 w U C N d c D = O - Z O CO N T T O T N N O. MJBIT B Status of Low and Moderate Income Housing Funds Sch C Agency Financial and Program Detail LOS GATOS Beginning Balance $8,631,125 Adjustment to Beginning Balance $0 Adjusted Beginning Balance $8,631,125 Total Tax Increment From PAW $1,804,573 Total Receipts from PA(s) $1,871,264 Other Revenues not reported on Schedule A $0 Sum of Beginning Balance and Revenues $10,502,389 Expenditure Item Subitem Planning and Administration Costs Administration Costs Professional Services Property Acquisition Land Purchases Other Relocation Payments Subtotal of Planning and Administration Costs Subtotal of Property Acquisition Transfers Out of Agency Other Subtotal of Transfers Out of Agency Total Expenditures Amount Remark $387,197 $28,366 $415,563 $4,285,784 $76,702 EnvironmentalReview - $11,445, Arborist Review - $3,415, Plan Check Review - $350.00, Traffic Data Service - $870,00, Consultant - $35,000.00, Planning Permits- $25,622.14 $172,285 $4,534,771 $412,000 Santa Clara County Housing Trust - $150K and Project Match $262K $412,000 $5,362,334 Net Resources Available Page 1 of 3 12/16/10 $5,140,055 Status of Low and Moderate Income Housing Funds Sch C Agency Financial and Program Detail LOS GATOS Indebtedness For Setasides Deferred $0 Other Housing Fund Assets Category Amount Remark Total Other Housing Fund Assets Total Fund Equity $5,140,055 2005/2006 $1073315 2006/2007 $1516456 2007/2008 $1614435 2008/2009 $1714850 sum of 4 Previous Years' Prior Year Ending Excess Surplus for Tax Increment for 2009/2010 Unencumbered Balance 2009/2010 $5919056 $8,631,126 $2,712,070 Sum of Current and 3 Previous Years' Tax Increments Adjusted Balance Excess Surplus for next year Net Resources Available Unencumbered Designated Unencumbered Undesignated Total Encumbrances Unencumbered Balance Unencumbered Balance Adjusted for Debt Proceeds Unencumbered Balance Adjusted for Land Sales Excess Surplus Expenditure Plan Excess Surplus Plan Adoption Date $6,650,314 $5,140,055 $0 $5,140,055 $3,000,000 $2,140,055 $0 $5,140,055 $0 $0 No [S ite Improvement Activities Benefiting Households ncome Level Low Very Low Moderate Total Land Held for Future Development Site Name Num Of Zoning ning Purchase Estimated Acres Date Start Date Remark 224 W Main Street .25 C -2 07/27/2009 07/01/2014 Page 2 of 3 12/16/10 Status of Low and Moderate Income Housing Funds Sch C Agency Financial and Program Detail LOS GATOS U se of the Housing Fun to Assist Mortgagors Requirements Completed Income Adjustment Factors Hope Home Non Housing Redevelopment Funds Usage Resource Needs LMIHF Deposits/Withdrawis Document Document Custodian Custodian Copy Name Date Name Phone Source Achievements Des cription Page 3 of 3 12/16110 N C LL al p 'N O C7 � O N O 6 E C d O �i L N O E en w/ q�J UJ E O O fl. N 0 O C Q O > O .0 � C �U o � U4 U O . Q. p r- N Y r O r N !0 �r �O N dt 'C c N N F O p o r C 2 r d} ER w d E t r C O O C p p p 6D to to 60 w+ C N f6 E ® (f} N d y �C C X N o 0 o F U F - ' � p p p o p C? CL N N N M O- O ,. M LO u i -0 C N `d' . L y J C c IL O 00 M G co r ~ ) S ER Gf w N d 7 i� ® C9 CL aLU- d} E!} a� 0 a C O N C O p 6 O > E x W n w LO LO N N D` e!' U U C 0 p o C) C N e- - ®. H O M �� w aE O L W C fn o 4a o a d M Cl) p C9 pp CD Fro C O N N of N C) p v v 6 C CD O C e- f6 J C O � L2. O � Q N U) ro +' J F- F d d C p O W W Z IL 0 a Q p r- N Y r O r N !0 California Redevelopment Agencies- Fiscal Year 2009/2010 Project Area Contributions to Low and Moderate Income Housing Fund Sch A Project Area Financial Information Agency LOS GATOS Address 110 E. Main Street PO Box 949 Los Gatos CA 95031 Project Area CENTRAL LOS GATOS PROJECT Type: Inside Project Area Status: Active Plan Adoption: 1991 Plan Expiration Year: 2031 Gross Tax Calculated Amount Amount Amount Total % Cumulative Increment Deposit Allocated Exempted Deferred Deposited Def. $9,022,863 $1,804,573 $1,804,573 $0 $0 $1,804,573 20.00% $0 Repayment $0 Category Interest Income $50,647 Rental /Lease Income $16,044 Total Additional Revenue $66,691 Total Housing Fund Deposits for Project Area $1,871,264 Agency Totals For All Project Areas: Gross Tax Calculated Amount Amount Amount Total % Cumulative Increment Deposit Allocated Exempted Deferred Deposited Def. $9,022,863 $1,804,572.6 $1,804,573 $0 $0 $1,804,573 20% $0 Total Additional Revenue from Project Areas: $66,691 Total Deferral Repayments: $0 Total Deposit to Housing Fund from Project Areas: $1,871,264 Page 1 of 1 12/16/10 Sch A/B Project Area Program Information LOS GATOS •0ject Area: CENTRAL LOS GATOS PROJECT FUTURE UNIT CONSTRUCTION - - - -- --- - - - - -- - - - -- - - - - - -- - - - -- - - - -- - ------- - - - - -- ----- - - - - -- - - - - -- - - - - - -- Estimated Execution Completion Contract Name Date Date Very Low Low Moderate Total 20 Dittos Lane 12/31/09 03/31 /12 16 16 0 32 Page 1 of 1 12/16/10 THIS PAGE INTENTIONALLY LEFT BLANK CL C.; (D — �E (N 00 It 0 CIO N co 00 co co M (.0 (0 V CL L ? iiE.EEEEEEEE 0 w U) 0 (D �O 0 0 V) LO M Lr) iD , N (D 0) -x V) 0 (D < w LL U) 0 0 0 E z V) E LL W U 0 N IL a DE _j C 00 a (D 00 CL., 0 0 c' co I F(<) 0 ce) a) LO o -n- —. U) LUT :(D . �c LJ�� ,El Z IV , > -'a (D 0 � 0 1 - I ii o [W- ' L- E w U) a) Z :3 cn z U) W LAJ -P 0 0- :E CD M (.0 (0 V CL L ? iiE.EEEEEEEE 0 w U) 0 (D �O 'CD,. (D 0 V) 0 CO o .Ln iD , 0 (D 0) -x V) 0 (D < w LL U) U) LUT :(D . �c LJ�� ,El Z IV , > -'a (D 0 � 0 1 - I ii o [W- ' L- E w U) a) Z :3 cn z U) W LAJ -P 0 0- (.0 (0 V CL L ? iiE.EEEEEEEE 0 w U) 0 (D �O 'CD,. (D 0 V) 0 CO o .Ln iD , 0 E z E LL W U N IL U) LUT :(D . �c LJ�� ,El Z IV , > -'a (D 0 � 0 1 - I ii o [W- ' L- E w U) a) Z :3 cn z U) W LAJ -P U) 0 LO 0) CL V) U) M O rn V) Lo ( , o 0 -i 0 n. C:) (D a C: .2 O 12 (D FJMIBIT C 0 0- V CL E iiE.EEEEEEEE W 'CD,. (D (D 0) Q) , U) 0 LO 0) CL V) U) M O rn V) Lo ( , o 0 -i 0 n. C:) (D a C: .2 O 12 (D FJMIBIT C � \ � .. \ a (yt / \\ 0 \ #f /§% .2 / \\ (k\ /22 (/n / \) \ \ � _ kk§ m \\ &£` o \0 - (/ = \ / \\ U go.®£ o&e\ \a ®0 o E C) wayU) \\\\ \ \ \ E k / / \) \ (� Sg / / E r0 / \ 0 0 \ o$ » e. j ■ k. 2 E /\ / .� \ o \ w ® \ \ \ LL / \ {j \ / �\ a \ m £ % 2 0 ) / 0 0 /0 \ \\ §/ . / E 5 / \: = , — > % a / / , K E \ _ » ) / \w \ \\ g \\ kk§ m \\ &£` o \0 - (/ = \ / \\ U go.®£ o&e\ \a ®0 o E C) wayU) \\\\ \ \ \ E k / / \) \ (� Sg / / E r0 / \ 0 0 \ o$ » e. j ■ k. 2 E /\ / .� a N O to O "C -� O. , 0 0 U) ) rn U) ) u 0 0 1" $ o II E } �-• II Q II c c (n Q a) U p C tL ro c c O O � a) rn rn o o O O a m 0 0 C c c o N N a LL dl 0 0 > > n Q o (n o r cz a) -0 N m n Q (n 0 0 0 0 0 o II 0 II Q II c c (n Q a) U p C tL ro c c O O rn rn o o O O a a 0 C c c o N N a a a dl 0 c 'C Q m o o ro ¢ o II 0 II Q II c c (n Q a) U p o C. _ (D 0 _ Q ro E U ro c o u Z y ID a) > - o v 0 0 m o 0 0¢ o `s ° 3 EL a U ro N N N trf I- a c m. E al O O C r ❑ ❑ 2 ro 3 c 4 c a' a) -1 w SD E 0 ;a o fL IL III O O O a T C a) (1) U 0 V "a 0 N C N. O 7 = N Q U C •V yti �(na�cEn ®, o om C ac°al v > ® a i is o c a" a) 'y ' () O N u U) n aN� ` E• > O - 0 f o se a) ° a n 3i o o a ro M .5 (n fr Q! ro oa)oo°)ma,a) 0.a Sao 0 0 ,�O - a) o ro o 'O a. 0 CO N ° N .0 0 Q o ii a = a D u% a a) ) -o oLr --- c r . o a z o o o c n O o M c M N c M M G C m 0 u) ro o Q ro (D o o c o 0 0 U a) J .Q - a - a te U E C O C ¢ J J o o v) o ) a) o '0 o 'o d N E a) d N ro > o c ro c @ ro Q a) o c� Z v ) N w w w z in a ti a) a) N a) ..0) 'N -0 ro ro 02 a o U a c:: N C N C C w 0(D 0) N c N 00oa 0 ❑ o U 0 C 00 (, ' U) N N y d1 N N a) a 00 E a¢ a o U) ) ro 'S m _o Mn >c 42 0 4.n ro U _ N C I a) 0 ro ° °) 00 c (n ro a C N N N c a 'r- ° a) C w 8 'X w N (D N' i'2 m ._ a) Q� U N ._ o > sdU) a D-- C ro a ro ¢ 'o ,c aC/) m E c 0 0- LL Q) a) ,C w ro a Q U a ,as •o Q 0 s � s U) C 0 0 W O 0 U .n D- E E 0 U U ro V) c L c N K 0 N to a m ( 0- 0 a 0 tX ro Q U 0 0 M U a tL ro c c O O rn rn o o O O a a C c c o N N a a a a 0 n n Q o o r C 2 . n n Q Q 0 r , 2: . 0 O 0 ( (D E ° °' - a r ro c c 0 E E 'E C C U U N N a) � �j N N C. _ (D 0 _ Q ro E U ro c o u Z y ID a) > - o v 0 0 m o 0 0¢ o `s ° 3 EL a U ro N N N trf I- a c m. E al O O C r ❑ ❑ 2 ro 3 c 4 c a' a) -1 w SD E 0 ;a o fL IL III O O O a T C a) (1) U 0 V "a 0 N C N. O 7 = N Q U C •V yti �(na�cEn ®, o om C ac°al v > ® a i is o c a" a) 'y ' () O N u U) n aN� ` E• > O - 0 f o se a) ° a n 3i o o a ro M .5 (n fr Q! ro oa)oo°)ma,a) 0.a Sao 0 0 ,�O - a) o ro o 'O a. 0 CO N ° N .0 0 Q o ii a = a D u% a a) ) -o oLr --- c r . o a z o o o c n O o M c M N c M M G C m 0 u) ro o Q ro (D o o c o 0 0 U a) J .Q - a - a te U E C O C ¢ J J o o v) o ) a) o '0 o 'o d N E a) d N ro > o c ro c @ ro Q a) o c� Z v ) N w w w z in a ti a) a) N a) ..0) 'N -0 ro ro 02 a o U a c:: N C N C C w 0(D 0) N c N 00oa 0 ❑ o U 0 C 00 (, ' U) N N y d1 N N a) a 00 E a¢ a o U) ) ro 'S m _o Mn >c 42 0 4.n ro U _ N C I a) 0 ro ° °) 00 c (n ro a C N N N c a 'r- ° a) C w 8 'X w N (D N' i'2 m ._ a) Q� U N ._ o > sdU) a D-- C ro a ro ¢ 'o ,c aC/) m E c 0 0- LL Q) a) ,C w ro a Q U a ,as •o Q 0 s � s U) C 0 0 W O 0 U .n D- E E 0 U U ro V) c L c N K 0 N to a m ( 0- 0 a 0 tX ro Q U 0 0 M r . o a z o o o c n O o M c M N c M M G C m 0 u) ro o Q ro (D o o c o 0 0 U a) J .Q - a - a te U E C O C ¢ J J o o v) o ) a) o '0 o 'o d N E a) d N ro > o c ro c @ ro Q a) o c� Z v ) N w w w z in a ti a) a) N a) ..0) 'N -0 ro ro 02 a o U a c:: N C N C C w 0(D 0) N c N 00oa 0 ❑ o U 0 C 00 (, ' U) N N y d1 N N a) a 00 E a¢ a o U) ) ro 'S m _o Mn >c 42 0 4.n ro U _ N C I a) 0 ro ° °) 00 c (n ro a C N N N c a 'r- ° a) C w 8 'X w N (D N' i'2 m ._ a) Q� U N ._ o > sdU) a D-- C ro a ro ¢ 'o ,c aC/) m E c 0 0- LL Q) a) ,C w ro a Q U a ,as •o Q 0 s � s U) C 0 0 W O 0 U .n D- E E 0 U U ro V) c L c N K 0 N to a m ( 0- 0 a 0 tX ro Q U 0 0 M 0 0 N a ttS. C -0 C 7 N N CA "W' N R ro U7 Q U N O IL N O w C) N O J N M d LO � N M 1- uj N N 1 Y ® t O C O = > in > v o L v Mn LL m E w z a) o a` q) a) N N ¢ N (n m a o u V) = d m y a a Q) C N E Q U) v c ro rn ro 0: m m O - o N N a� N LO cu 0 O M p C U E S ) T � O 0.. 6 Lo O U M C Q) 0 06 V S v 0 _a O UY E m O Z O I- U C` � 't w O U LD N c 'U o c N E rn N N OD M o O ''� 1 w u N m o n U C � N :3 o to 0 �S l O C C4 IL •U �U �? N N Fla 6 r a w p w E 0 M O Iti N O M C ;H -- aL U c U) O v N o, N S N IL O o V � o O M U U U O 06 U ® U) ® N •_.1 0 _a O UY E C ' O Z F' c W � 't ' L O U LD fU U -+ c 'U o c N E rn ia. a N 0 _a O UY O U) O M V N O O d CD N N �; L L6 c%} U 0) N W � 't ' L O ! O f� N CO ~ N � N N OD M o O ''� 1 10 0 u N N � N IV N rn r C C4 IL •U N �? Fla 6 @, N O U) O M V N O O d CD N N �; L L6 c%} O N V N co d' U C N DI Q N 0 E N C C O _ O Q � ro N N N Z o c 0 0 N N N bt 16- a U C �N N U) N Q N_ ❑ O O U m . O U) IL U 0) N W � 't ❑ C N O) I� N � N M OD h o m U u N N � N IV N rn r C N IL •U N �? O N V N co d' U C N DI Q N 0 E N C C O _ O Q � ro N N N Z o c 0 0 N N N bt 16- a U C �N N U) N Q N_ ❑ O O U m . O U) IL U N � ❑ C N O) N � U N O N U O U u N N � N IV N C ❑ IL •U N Fla 6 @, N w p U U cn U cn O N V N co d' U C N DI Q N 0 E N C C O _ O Q � ro N N N Z o c 0 0 N N N bt 16- a U C �N N U) N Q N_ ❑ O O U m . O U) IL CD: 0 N Q) ' a L :. Q. V "- d n w -es 4- 0 +• C 0 E co o. w E' E . U N c E d d C N CD C E > v > C � x N � .fl (D o z Q rn ro a ro a� Q U N �O a` a U) -mo n N S . v- O C (D E U) N 0 ro E E , tCDOLOW - o c (0 ti M O � W U) - CO co rn o C) O (O op O) (D N O N 7 M CO h M O tc N O M N co O) E U Q -° N N c E d d C N CD C E > v > C � x N � .fl (D o z Q rn ro a ro a� Q U N �O a` a U) -mo n N S . v- O C (D E U) N 0 ro E E - o c rn o E N O N 7 = O N n E U Q -° N C � � E E m N N z o o Q 4 j J O O `m Q V ca (D ac) LL n. H O 6 ° O N c E d d C N CD C E > v > C � x N � .fl (D o z Q rn ro a ro a� Q U N �O a` a U) -mo n N S . v- O C (D E U) N 0 ro E E \ \ / \ m § / .�2 \ } : \ ( � \ � o \ { � \ / \ \ \ \ e oli \ . o o: L6 e o: v: « G \ 3 \ < / LL / \� S/ \\ \\ ^\ \� \d \/ \{ '0 CL 2\ \\ \\ ƒ\ \\ 27 {j /) /3 \ / � \ .\ \ L. \ % LL � � g \ § \ « \ . { / [ \ = w CL & e \ \ \ \ » \ \ \ \ 2 � \ \ \ L § ) 2 # (n m § m k § \ » / k & / � / f m 7 , % \ \ [ L \ . G / / k « { /� < § \ f 2 f < / } \ J \ \ m £ § ® \ n '0 \ \ [ < L § k » ) g \ \ \ [ < / & ) & % R } ± \ / < \ 2 \ L � 0 ~ I \ \ \ / ® \ ) \ \ \ / < / ± w ±§ : £ \ \ . E P m « G \ 3 \ < / LL / \� S/ \\ \\ ^\ \� \d \/ \{ '0 CL 2\ \\ \\ ƒ\ \\ 27 {j /) /3 c 41 U 'a O ..........: 0 O L N O m O : � d O � N _n. U a N ......_.., N N O. O O O O (Q O N O O LL E1-}' O a N (fi N b a d ro (i C) N N O O m n > N N N a) U) Q ( ff. a) V) Q CL -b Q N C d LL C C Q¢ m . U a. LM w C 'C) C a m L O w G a 'C [L W n ro Q C 'U L1 C N a C a d n 1 55 m LL m d3 U U a i G) n E d H rn C 0 v c g C ro b J N iu vi .iz ro n U �o c b CD a Q to C 'U C ii N N O z c w b c �O () c b b Q m ro C b b roU a -(y 'v w I[$ y 0n ro L ro c a b n CO b N N cU u n C N O O C m b sm U M bO c7 Q N C O ro CA I- J 41 U 'a O ..........: O L N O O O : � d O � N O; a N N_; LL E1-}' C ro b J N iu vi .iz ro n U �o c b CD a Q to C 'U C ii N N O z c w b c �O () c b b Q m ro C b b roU a -(y 'v w I[$ y 0n ro L ro c a b n CO b N N cU u n C N O O C m b sm U M bO c7 Q N C O ro CA I- J 41 U 'a L N � � a vi LL L V N LL q C7 v "-� 0- N b a d ro (i T 'ZY O m N Q N ?' C m 'U a m cl .b a N b ro II. a m n > W n o `� c [n n 'C. N a) U) Q ( ff. a) V) Q CL -b Q N C tm C a m ' a LL C C Q¢ m . U a. LM w C 'C) C a m L O w G a 'C [L W n ro Q C 'U L1 C N a C C ro b J N iu vi .iz ro n U �o c b CD a Q to C 'U C ii N N O z c w b c �O () c b b Q m ro C b b roU a -(y 'v w I[$ y 0n ro L ro c a b n CO b N N cU u n C N O O C m b sm U M bO c7 Q N C O ro CA I- J \ § � / / ( / \ . j \ / . ± » 0 \ 3 « \ . .G .. . . 2 2 0' _ c 5\ a a g\ 8\ : 8� O OD 0 0 C) W \ . / ¥ ƒ �\: : w: 2 N a. z / \ L } G § »o � \\ 4\ . §f ` § CL \ ©Q LL / \ mf b o & k \ k 2 \J m - 2 E LL u ._ q §� / �\ @ j Ia f \ \ } # o o E\ m a o §§ o e) g a § £ \\ g m m I Q) w k g ) < E - e 6 / ) 3 j / \ E § [ / R 3 ] �/ ¥ > § / < < o o A A § : < <_ \ u 2 % / / / \ \ ® E t _ IL G 0 /§ \ 2 3 { 2 y 2 / } \ / £ yy y 2 £ �2 / 3 \ § � / / ( / \ \ § / k E � \ � / _ ./ 2 .} § \ \ e � G 8 J a� / % % o » j� LL \ \ « \ u e \ CD \ j � / E . o: tn \ = L \ \ \ r: � in \ m / / \ . In : \ \ \ \ / m. \ _ » ( f G t E / / LL 2 2 / w b [ w § & C) j # 0 { ) \ 0 E U) ® 0 [ \ e 2 \ ) E\ % { \ 7 % \ \ o 4 u « \ e \ \ CD ) j � o E . o: tn R:. = L \ \ \ r: in \ m / / . In : \ \ w \ \ \ V \ \ � j / / } \ 0 j A \ \ / \ .R Q E x \ \ \ \ �3 j / b \ 3 f / / LL V) \/ \\ ay \/ \r /\ /\ \/ \/ \\ 0 3e jj ; .. J/ \\ §\ \/ \/ /5 e \ \ ) j � E _ / = L \ \ \ / 2 \ m / / \ \ w \ \ \ V \ \ � j / / } \ 0 j A \ \ / \ .R Q E x \ \ \ \ �3 j / b \ 3 f / / LL V) \/ \\ ay \/ \r /\ /\ \/ \/ \\ 0 3e jj ; .. J/ \\ §\ \/ \/ /5 § < \ . § d �.m \ 0 . § �k � 2 2 � iffilb-'s \ e j \&] ®%c \ .§ 2 / \� \ \� 00 �S B \ m § \ 0 \ /g U. 0 / / 2 CO")- �/. & I & \ \ z C \ \ § \ u m ) / * ® m e \ E ®\ 2\ e G[ e j\ 2/ y§ � � � ) � � \ ) \ E ƒ.\ e m m@£ m u/ c LL o m 5 :_: \ZZ \ / G } } ( \ : \ ) 8 ) \ m / ) 5g \j ) II § 2 � 2 \ f \ � § / E L )k \{ � \k 3 q ~ \ \ \\ .\ \ \ / {) \ /LL 5 \ \ /) / kU� � § § / � \ m ® 2 t \ ¥ \ <£= \ T w / \ 4 w ) w « ) m< $ \ R / 2 » e / o \ I t § \ W&§ \ A \ \ \ f ƒ \ ) § / § m u A o: e: o; a e. a ; R: o: + o: o, . w e r z / C) m / G. rm :ol , w e: \ } � � � .I k� 0� C) . V) \} \ ) / \ \) ® \ /: « } G ( : ƒ� j) 0 , . \ \ \ \/ _ z 2 } . \ \ / / ( e � _ », \ § 2 \ k \ E f � / A \ � � .I k� . V) \ / \ � « } G ( : 0 , \/ \ § 2 \ k \ E f � / \ � � � \ § { / % ~ j \ « } e m x %sm » . 3 # \ 7 2 2 \ 3 ± J£} e% G 4 / J C G L 4 0 N C a) X W C tt3 . r'0 +V 0 N ' N N ,. a w Q1 tSS Z �u d U � U,. d. 0 a`) mO_ N CL U) CD ai OI ,a) C ro j d O S � a) O O J p ' C a) v Z N m a C + _ .D IA. 41 Q U O O N � C lV 5 Q ro U O O ..O I I O O 1 0 ! O M O I m O O ! V) U) U) I (FJ U) UT ! O 1­ 0 I­ U) N: LO Ili Lo It ! LO I � LO i ooc r .- U> 091 ta 0 ur 1 i v O d co CD ,U�l m d) a �. O Lr I� LO Nt t o Irn LO oc r M I� I O O O O O N Lp I 0. U. 0 � i V) O 0 O) C U a m LL a) n N Q Q N O 5 N N O N Q) U w �. L1J p j O a) p C U) C O Q Q CO m C :3 0) 12 N C 11J rn o c ro a C o J O O "_. X N V) -Np c LL r_ C a) o) o O J O o 0) w T N N X D: X ~ a a a Q cn o n o � \ � \ � \ � \ = ( � < � 1 .ay � .� � \ § a < 2 2 L � q d \\ a : < 5� / k § u @ / E (L j ƒ w )7 CL No kU) \} S| \ $ C S \k )LL c } ƒ] U. ) & I II I ]& � I \ �k 0 �) U \ �\ C . e '/ �_ \ \ ) �f \ co s © �cq \ )\ , » §f a J .2. (D & I II I ]& � I _ \ 0 �) �f � �\ C . / \ \ �\ \ co © �cq & , » §f a J .2. (D &o0 0 2 � _ \ \ �f � �\ \ I � C � a / \ \ �\ �3 © �cq & , » §f a _ \ \ �f � S o \ \ \ �3 © �cq & _ \ � S o \ \\ �G§ » §f / m (D &o0 0 \ / / \ \\ v; ustn ® t % /§\ § / 7 \ w tn E5 \ / 0 X X \ w / ) O LL ro U) U) C r O (D C .2 a LL CD O a) -0 0 -0 0 a E LL 0 0 -0 LL C) 2 0 Q) O U) 45 LL w 0 fC 0 V) LFN CY) 0 w 0 d 0 CD 0 0 0' 0 0 w co fj�l N U�l fj) V� (H ER (17 t ) 0) to 0 cr) LO LO to LO 00 04 LO LO O rn 0 L6 (3) LO U- (D a LL > (1) (n r- (1) W w a) lt' (1) C) w LL U) > U) 0 U) 0 LL > a) E TD (D 0- (D 0 0 > CL E a) a) (D co a) 5, 0 'a (D co r- a) E E E E U) w E 0 a _2 2 r_ :3 a) o 2 In E U) U) to 0 0 o 0 a) > N w w U 0 0 0 q) r :3 :3 fs C) :3 Q) < 0 C) < < - 0 -1 n o o O o w 0 a ro IL � ) i e k� § \ /t © �A 7§ �\ \� ��)(] ©? 8±§ \ f \ U. � < ) ) E " \_ °_ §k%ƒ «v E \ \ � } � y � \ e � j u �\ \] \LL »: c ) <� $ �r 72 ( ©° o § � \ \ \ E & !& |& !& } CO, � '\ �\ -0 $ \ }3 ƒ /\ \ \ 0 . �/ -\ �{ 7 / }/� � R� � \ \ \ & \. \ a # b \ \ & < \ \� \ $d � « \ \ 3 \ � \ \ . �} \ .�e -0 $ \ }3 ƒ /\ c ) 0 \ �/ �{ _\ 2 o 0 G/ \ \ \\ \ � -Do \ < E o < \ E �\ t\ ?? { k ) \ . / \ E � j ) < L o- w \G C S _� 7> Em u <m kE < \ \� \ $d � « \ \ 3 \ � \ \ . �} \ .�e d N O H 'O N x� m ro N Wa ro O m r- 0 y J ❑ L Q� a) F O L .L. Y+ O b r r Q. C IL Q) ,4; C d 0 O Y C N 3E LL o0 ,J U C 9l U_ N N R N C d N w U N N ( C _ O M % LL . ro U 0 0 N a r u N LL MMa ', C 0 00 0 0 It III O O LO O r- O V c0 N co V--> 0 0 N N N m its d V N U s O a m N N .t] ro N a� N m d U- a O V N N D t .... O C ro c o a> E O n a> c 4 - o 0) O LL m d L o t F N C ro .D 'N CO C N •! .0 o c C .2 j C .a a ro .Q > n ro a o o� ° w S c 0.. 'w d J U 0 J U) O a>i.QO) K . n o a c 0 0 0 E o c > Q ro N m O o ro (�V( o m (x(3 H V J Q C J O ❑ ❑ M C ❑ 0 J O Ll Q 0 0 N N N m its d V N U s O a m N N .t] ro N a� N m y F- 'U K d ) V C J-I J N ❑ ro a I-- L T 4 W N d 3 C . U._ = N a) !Sf N N f� d N = y N li 13 30 p d =s. U N LL U d O � CL C w U. CL IC U O O N } L) N E M O o w o v OD ` ti 0 M OD W - O 'mod' N (D r O M N (D ' ( W N LO - I VZi g 00 ti 00 C'^1£' UY Et Y � W F r `-' I° N' O (0 Tr' I O I O Ef} (f3 N a) � I D-• O' L O 0 o tY d o _ t!') r r . Lo LO M I -- 0 O ti N a1 0 t = CLOD rn rn i 00 • (.9 fFT I =_ O N N ti - N O pt . OD ti U ' O C, N N LL . (D - C �U1 - N 'U) ' y N Y N " ,N C ' N N C N N N N N S W L N d t d a) N CO C� N fY] N - j Y L •� N N v v a� a U W c Q LL LL :D LL D F F- O W N m Ln o LQ Lo i 0 C:) Lo 6 -' L I i 4 A U � ra N Od ®® r !mod E-� d bJl pa L d O U U W U W O � O W Fa U O U cl r_ 7 � O N w En O C O C CL (D rn co y � N C � U D � y N � N QJ O CD E ti O C y V) N 0 Q O C C � N . u N w a L o E En on 5 •E 0 7 o C C 'L7 b u C � C U C Q bA 4 Q U 0 c O w 0 • G C U O O cd n O- N 2 N ^ O U O w E in Fq o 40 M �. cd C N N y � O b O C v_ U " � O N C U U V) .� N U 5 N N . Q b N C N C V-4 4. O 0 O U 0 z Q 'O N O U a� � U C ,J U cd j, x N C-0 O • cd C v O ' 0 G cli w� N -� 0 O 0 �F+ N O O N 'L7 U a. 0 EXHIBIT D N 4. d O ® �1 w z A w H W A �d d w W >1 4 H u H � O � N A H W a H � A A w z W W d H U' z W � o H N W M N O h W o a N w A d �w w G7 O Pw v. a d 3z v Q Q Q Q Q Q E �lbA' bq bA bA bA bA S C C C G a `o o O O o a �3 -1 W 000000 G C G C G .n.oAAp A QQQQLI Q V. t t;tt C . � .�. v on cm bn bq oA. 00 o 2 2 x o CHf^F -HF-H „aa.waaw ¢�vevv bo 0, r-,r00 . 10 00 r- O Cl. A L tn V •'-� O N d ON O O b (7i i k Q H � C ' L CL a G C A L Pr O U 64 69 6R two C a\ vi Vl ' N C\ rn. M d' b M N vi 1 0 h �O --� "n "n W 0Y 7 o d�ornr- d rn�rn M. - t� r N l- o0 of oo W M NC CO r N �O b of W In N N �D co d� 7 d N N M r) 00 C, 00 pA O [r 64 69 64 d .N L O L H K H a y d L +' N G N G N C 0 C 0 G N G N C N C N C N G N C N G y �+ 0 0 0 0 0 0 0 0 0 0 0 0 G a G G G C C G G C C C C G N N N N N N M 0 M 0 M 0 M 0 M 0 M 0 .�cl.� tv . A N 0 0 0 0 0 0 . N vl t0 l� M d� O O� [� O O to 1.0 r --� C d'Q� M V1 C+ 0 N 0 N 0 N 0 N 0 N 0 N N M N M N M N M N M N M a0+ O o 0 0 M 0 0 M 0 vv 0 0 vvv� 0 0 0 O O O O O O 00 . A E O d U U A y Q N �=. 00 = O L' 2 G U N U Q a �.� Q Q.O C y ..0 b9 U V) U O CL b_C U to U N En U � U c .O H W C aa. O C W ��� r. 0 � A P 4 0 1 p o u H 4+ o 0 � m Q w� O U w � C � H Ga0C) caC7c7 O C G O ' 0 0 0 0 0 Ua.a3� O O O ¢ Uaa3� v�F-E Q Q Q Q Q Q E �lbA' bq bA bA bA bA S C C C G a `o o O O o a �3 -1 W 000000 G C G C G .n.oAAp A QQQQLI Q V. t t;tt C . � .�. v on cm bn bq oA. 00 o 2 2 x o CHf^F -HF-H „aa.waaw ¢�vevv N Q � N d w z a w w w z x d a v w z w w z w 0 H z w Q a w H 0 0 N w a w w a w u z EA t� z w O a W4 w A W O C7 cn O a w O 3 w a u O a w u 0 N M d a F7 0 0 C b a� w C b C PZ Y y O °J U e U H N W N N a . 00 0 o u u U � o 0. � N F N w bO y •� 0 •� x u� C� N ti 5 0 O o ga o > C b 0 R 3 " f O . ro 0 a a 0 bq bD O v p U L W e STATEMENT OF INDEBTEDNESS- FISCAL YEAR INDEBTEDNESS ONLY FORM B FILED FOR THE 2010 -11 TAX YEAR (Optional) TOWN OF LOS GATOS REDEVELOPMENT AGENCY CENTRAL PROJECT AREA For Indebtedness entered into post June 30, 2010 Original Data Current Total Interest Total Outstanding Principal / Interest Debt Identification Date Principal Term Rate Interest Debt Due During Tax Year SERAF 2010/11 456,910 456,910 Totals, Fiscal Year brdebtedness Ella= 456,910 456,910 Purpose of Indebtedness: SERAF payment to the State bA ca P. V L � C" z A T�, i O L�. O W F+ U O H z W U O N M d C C ti 01 d 8 N _T C O ;T. A C O • C O d H fq is c� x ca E� N N Vl h 1. n C-4 10 � T m cD (V l� On %0 i b G7 et y W A • vl . O oo.. O O It oo oo ul b m cD ll N o r N V h oo o0 Nl N o0 \O d' ti 'O ci od U c j ter'Olr w a,mcl ° v N N N oo oo l U � + g a E Q �; o in d •p � N 'p ro Q w O w off. o bA CU' N o d• N O N l� "t mN o p w ' v N vi C. V �MC O M Do c E c h e o d H R ti� U i T7 _- R• Y> N n N t O D y V1 V n. m d c In = o � y U U C G y c l Q. 'n �n u h N Ol d' t� m O� M —rn 9 N 0 > w c ctl �m y O Y 'Ll .., y to O d' O m O lD to r Vl Oo Co ob V1 cD ID O. Vl V -• 00 to D\ •--• Q\ N M N •- Q C ob t N O� N l 1D vi .- N V c rn T7 N N O In V vn O 4 •-. N In O (7\ N l� h ( d' W Ol M of n co 10 a -y' . +� Q v O V1 •- O o0 D\ fn M M I q to N O C O v bA 'O C q.=MN N M N a\ c > � D\ c O D\ O N 't7 C_ FC C O ~ N O d •Ly O O U U d) v u bf bf H U H U_ O � p c O c oA oG] y p 0 O U O Y Cd • •U G y� aN 0 Q w F c) NO cad Lc/) o o¢ A x V 'c7 x U H W b C w N� 'Y C H oc w N cd c C O > y O C b W O O O w O O N= a b O O p o N �• a o O W V U U 7 N V :7 U (d O •� w C O • C O O y N id O 'C 0 0 R '� _y y O C N a id O ,' U a O r A cd O O , U c [ H C : N C 0 •- rn m y = O N U N N O• Uaa3� I O O cd O c�a3M O a O cC N N ° I o N a A L dmumww1.0 y C C v N 0 C N o C o N C_ C GJ C'C_ D N N C C_ N C U C , C , C H n. c c e V a.c.aa.D.c.a�.a,aa.a �3a ¢wUQwwc�x..��a xo0 DID o u o v F F O c m �aa:aa::a:aaaaaaa ¢¢z O IL- c, a f-- F- N w O N. 4) P, U W C7 z Q•( M W d� O w O W d U a Q W z W U 0 ti C\ O O N 0 E w h c� A C O N • C 0 N O 0 N 2:. Q N C O N ,p O N 0 O D V N N c Y o c N co C N o h O N 'o CL to � T E F U � c O N O N O C ° o ° uo O N O � O o. 01 h 0 0 0 (+) N Co pp I 000 00 N O m o h N O M O (Q C (O O V' O) 1 E v [� E (O O o ° r r— 4 000 (n ro C N (Q �•" U ti �N O O (A 0) (D co r c- 't O u i d H L y L • r ow , y 1 Pi O d ( O ° O N 0 ( t i- ( y E N O G O W M N h Q ° u OE' •a �• <t co N-, 7 N V N 0 N hh lh N M d' E � .°. (v (Q M M A U � v( � c x e Q d X O m g 00 O o N M N h v Q Ru(� L C N o rn o s V' ,F h ro N W A N V � G x u W' e 1 C M O Ool� •[ h W O C C M n W O. r r W yo Ln h h h M 0 Y( (O r V h FQ y 0M0LOw 0 N d � N (h o a d� Qd b 0 7 7 m C O c N LL c c � •� 0 0 0 0 0 0 � m «t miaia� °o �aa aaa E c0y,ua 0 0 0 6¢_ 0 0 3 3 '.. L1. > C c o Ul N '0 O O 000(Do o¢ mI c¢ c - m rnoo O m r R °'�3nnvw Q O N N N N W I Q (n > Qmm0U ' Cl wU.C7 d cc c c c cc c c d -o '�NNNNNNNNN aaao daan.(L o. LL.� p N c N .N N N N N c c c c c c W J J p N N N N N N N F- riaan. daaa 0 ti C\ O O N 0 E w h c� A C O N • C 0 N O 0 N 2:. Q N C O N ,p O N 0 O D V N N c Y o c N co C N o h O N 'o CL to � T E F U � c O N O N O C ° o ° uo O N O � O o. CALCULATION OF AVAILABLE REVENUES TOWN OF LOS GATOS REDEVELOPMENT AGENCY CENTRAL PROJECT AREA' TAX YEAR 2010 -11 RECONCILIATION DATES: July 1, 2009 to June 30, 2010 1. Beginning Balance, Available Revenues 2. Tax Increment Received -Gross All Tax Increment Revenues , to include any Tax Increment pass through to other local taxing agencies 3. All Other Available Revenues Received 4. Revenues from any other source, included in column E of the Reconciliation Statement, but not included in (1 -3) above 5. Sum of lines 1 through 4 6. Total amounts paid against indebtedness in previous year. (D + E on Reconciliation Statement) 7. Available Revenues, End of Year (5 -6) FORWARD THIS AMOUNT TO STATEMENT OF INDEBTEDNESS, COVER PAGE, LINE 4 NOTES 13, 302, 003 9,768,775 132,576 23, 203, 353 10,224,227 12,979,126 Tax Increment Revenues: The only amount(s) to be excluded as Tax Increment Revenue are any amounts pass through to other local taxing agencies pursuant to Health and Safety Code Section 33676. Tax Increment Revenue set -aside in the Low and Moderate Income Housing Fund will be washed in the above calculation, and therefore omitted from Available Revenues at year end. Item 4 above: This represents any payments form any source other than Tax Increment OR available revenues. For instance, an agency funds a project with a bond issue. The previous SOI included a Disposition and Development Agreement (DDA) which was fully satisfied with these bond proceeds. The DDA would be shown on the Reconciliation Statement as fully repaid under the "other" column (Col E), but with funds that were neither Tax Increment, nor "Available Revenues" as defined. The amounts used to satisfy this DDA would be included on line 4 above in order to accurately determine ending "Available Revenues ". THIS PAGE INTENTIONALLY LEFT BLANK