Item 13 Staff Report Consider Adopting Resolutions Approving the 2000-01 Annual Report for the Los Gatos Redevelopment AgencyMEETING DATE: 12/17/01
ITEM NO. 3
COUNCIL/AGENCY AGENDA REPORT
DATE: December 13, 2001
TO:
MAYOR AND TOWN COUNCIL/CHAIR AND MEMBERS OF THE
REDEVELOPMENT AGENCY
FROM: TOWN MANAGER/EXECUTIVE DIRECTO
SUBJECT: CONSIDER ADOPTING RESOLUTIONS APPROVING THE 2000-01 ANNUAL
REPORT FOR THE LOS GATOS REDEVELOPMENT AGENCY.
RECOMMENDATION:
Adopt resolutions approving the 2000-01 Annual Report for the Los Gatos Redevelopment Agency.
DISCUSSION:
Pursuant to California Health and Safety Code §33080.1, the Redevelopment Agency shall present
an annual report to Council 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, 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 2000-0laudit (Attachment 1, Exhibit A) 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 the agency, including all financial activities involving low -
and moderate -income housing funds. The Statement of Housing Activity and the Annual Report of
Financial Transactions (Attachment 1, Exhibits B and C) consist of forms provided by the State
Department of Housing and Community Development.
During the 2000-01 Fiscal Year, the Redevelopment Agency worked with Community Housing
PREPARED BY: Steve Conway, Finance Director
Marty Woodworth, Redevelopm anage,
Reviewed by: Attorney/General Counsel
Revised: 12/13/01 4:36 pm
PAGE 2
MAYOR AND TOWN COUNCIL/CHAIR AND MEMBERS OF THE REDEVELOPMENT AGENCY
SUBJECT: ADOPT RESOLUTIONS APPROVING 2000-01 ANNUAL REPORT
December 13, 2001
Developers to complete construction of a 12-unit apartment project affordable to very low income
families on Miles Ave. The Agency also worked with Silicon Valley Habitat for Humanity for the
construction of an affordable single family home on Charles Street. Furthermore, the Agency
continued to move forward with the Downtown Beautification Program, including street/sidewalk
reconstruction, preparation of construction drawings for Bachman/Santa Cruz intersection
improvements and completed work on a two storm drain project in the Almond Grove neighborhood.
Design work was undertaken for Town Plaza improvements with construction to commence in 2002.
Work was commenced on the comprehensive Downtown Parking Management Plan.
CONCLUSION:
Upon approval by the Council, the Annual Report will be sent to the State Controller and the State
Department of Housing and Community Development.
ENVIRONMENTAL ASSESSMENT:
Approval of the Redevelopment Agency Annual Report is not a project subject to CEQA.
FISCAL IMPACT: None.
ATTACHMENTS:
1. Resolutions (1-1 & 1-2) approving the 2000-2001 Annual Report for the Los Gatos
Redevelopment Agency
Exhibit A - Redevelopment Agency Audit for Fiscal Year 00-01
Exhibit B - Statement of Housing Activity for Fiscal Year 00-01
Exhibit C - Annual Report of Financial Transactions for Fiscal Year 00-01
MW:mdc
N:1DEV\MARTY\RDA°0-01 ANN. rpt
RESOLUTION 2001 -
RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS
APPROVING THE 2000-01 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.
3. The audit issued by Maze and Associates, 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 and the Annual Report of Financial Transactions,
attached hereto as Exhibits B and C, consist of forms provided by the State Department of Housing
and Community Development.
5. Approval of the 2000-01 Annual 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 hereby approves and adopts the 2000-01 Annual Report
for the Los Gatos Redevelopment Agency, attached hereto as Exhibits A, B and C.
Attachment 1-1
FURTHER RESOLVED, that the Town Council determines the planning and administrative
expenses from the Low and Moderate Income Housing Fund are 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 thel7th day of December, 2001 by the following vote:
COUNCIL MEMBERS:
AYES:
NAYS:
ABSENT:
ABSTAIN:
SIGNED: /s/
MAYOR OF THE TOWN OF LOS
GATOS
LOS GATOS, CALIFORNIA
ATTEST:
CLERK OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
RESOLUTION 2001 -
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS
APPROVING THE 2000-01 ANNUAL REPORT
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.
3. The audit issued by Maze and Associates, 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 and the Annual Report of Financial Transactions,
attached hereto as Exhibits B and C, consist of forms provided by the State Department of
Housing and Community Development.
5. Approval of the 2000-01 Annual Report for the Los Gatos Redevelopment Agency
does not constitute a project for purposes of the California Environmental Quality Act
("CEQA").
RESOLVED, that the Redevelopment Agency hereby approves and adopts the 2000-01
Annual Report for the Los Gatos Redevelopment Agency, attached hereto as Exhibits A, B and
C.
Attachment 1-2
FURTHER RESOLVED, that the Redevelopment Agency determines the planning and
administrative expenses from the Low and Moderate Income Housing Fund are necessary for the
production, improvement, or preservation of low- and moderate- income housing.
PASSED AND ADOPTED at a regular meeting of the Town Council/Redevelopment
Agency of the Town of Los Gatos, California, held on thel7th day of December, 2001 by the
following vote:
REDEVELOPMENT AGENCY MEMBERS:
AYES:
NAYS:
ABSENT:
ABSTAIN:
SIGNED: /s/
CHAIR OF REDEVELOPMENT
AGENCY
TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
ATTEST:
SECRETARY OF THE REDEVELOPMENT AGENCY
TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
REDEVELOPMENT AGENCY OF THE
TOWN OF LOS GATOS
COMPONENT UNIT FINANCIAL STATEMENTS
FOR THE YEARS ENDED
JUNE 30, 2001 AND 2000
Exhibit A
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REDEVELOPMENT AGENCY OF 'Mr,
TOWN OF LOS GATOS
Component Unit Financial Statements
For The Years Ended
June 30, 2001 and 2000
TABLE OF CONTENTS
Page
Independent Auditor's Report 1
Component Unit Financial Statements:
Combined Balance Sheet - All Fund Types
and Account Groups 2
Combined Statements of Revenues, Expenditures and
Changes in Fund Balances - All Governmental Fund Types 3
Combined Statement of Revenues, Expenditures and Changes
in Fund Balance - Capital Project Funds - Budget and Actual 4
Notes to Component Unit Financial Statements 5
Combining Balance Sheets - Capital Project Funds 8
Combining Statements of Revenues, Expenditures and
Changes in Fund Balances - Capital Project Funds 9
Combining Statement of Revenues, Expenditures and Changes
in Fund Balance - Capital Project Funds - Budget and Actual 10
Report On Compliance And On Internal Control Over Financial
Reporting Based On An Audit Of Financial Statements
Performed In Accordance With Government Auditing Standards 13
This Page Left Intentionally Blank
AZE
ASSOC! TES
ACCOUNTANCY CORPORATION
1931 San Miguel Drive - Suite 100
Walnut Creek, California 94596
LVDEPENDENT AUDITOR'S REPORT (925) 930-0902 • FAX (925) 930-0135
E-Mail: maze@mazeassociates.com
Website: www.mazeassociates.com
To the Goveming Board of the Redevelopment Agency
of the Town of I,os Gatos
We have audited the accompanying financial statements of the Redevelopment Agency of the Town of Los
Gatos, a component unit of the Town of Los Gatos, as of and for the years ended June 30, 2001 and 2000 as
listed in the table of contents. These component unit fmancial statements are the responsibility of the
Agency's management. Our responsibility is to express an opinion on these fmancial statements based on
our audit.
We conducted our audit in accordance with generally accepted auditing standards and the standards for
fmancial audits contained in Government Audit Standards, issued by the Comptroller General of the United
States. Those standards require that we plan and perform the audit to obtain reasonable assurance as to
whether the fmancial statements are free of material misstatement. An audit includes examining on a test
basis evidence supporting the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as
evaluating the overall fmancial statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
As discussed in Note 1, the component unit fmancial statements present only the Agency and are not
intended to present fairly the financial position and results of operations of the Town of Los Gatos in
conformity with generally accepted accounting principles.
In our opinion, the component unit fmancial statements referred to above present fairly in all material
respects the fmancial position of the Redevelopment Agency of the Town of Los Gatos as of June 30, 2001
and 2000 and the results of operations for the years then ended, in conformity with generally accepted
accounting principles.
In accordance with Government Auditing Standards, we have also issued reports dated October 31, 2001, on
our consideration of the Agency's internal control structure and on its compliance with laws and
regulations.
October 31, 2001
1
A Professional Corporation
R> iEVELOPMENT AGENCY OF THE TOWN OF LOS GATC ,,
COMBINED BALANCE SHEETS
ALL FUND TYPES AND ACCOUNT GROUPS
JUNE 30, 2001
WITH COMPARATIVE AMOUNTS FOR JUNE 30, 2000
TOTALS
(Memorandum Only)
GOVERNMENTAL FUND TYPES ACCOUNT GROUPS
Capital Debt General General Long -
Projects Service Fixed Assets _ Term Debt 2001 2000
ASSETS
Cash and investments (Note 2) $3,744,497 $3,736,911 $7,481,408 $3,102,696
Restricted cash and investments 442,712 442,712 440,001
Intergovernmental receivable 15,816 74,427 90,243 62,486
Parking Lot 4 4 Project (Note 4) $4,067,708 4,067,708 4,067,708
Amount available in debt service fund $182,675 182,675 286,600
Amount to be provided for retirement of
general long-term debt 2,002,325 2,002,325 2,033,400
Total Assets $3,760,313 $4,254,050 $4,067,708 $2,185,000 514,267,071 $9,992,891
LIABILITIES
Accounts payable $859,733 S36,071 $895,804 573,255
Advance from Town of Los Gatos (Note 3) 1,968,500 1,968,500
Matured bonds and interest payable 18,278
Due to other agencies 505,836 505,836 433,041
Pass through obligations 1,560,968 1,560,968 1,236,147
Certificates of participation (Note 4) $2,185,000 2,185,000 2,320,000
Total Liabilities 859,733 4,071,375 2,185,000 7,116,108 4,080,721
FUND EQUITY
Investment in general fixed assets $4,067,708 4,067,708 4,067,708
Fund balances:
Reserved for :
Low income housing 1,418,614 1,418,614 1,007,521
Debt service 442,712 442,712 440,001
Designated for debt services
Unreserved, undesignated 1,481,966 (260,037) 1,221,929 396,940
Total Fund Equity 2,900,580 182,675 4,067,708 7,150,963 5,912,170
Total Liabilities and Fund Equity S3,760,313 S4,254,050 $4,067,708 $2,185,000 $14,267,071 $9,992,891
See accompanying notes to component unit financial statements
2
nr.DEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS
COMBINED STATEMENTS OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
ALL GOVER' 1vIENTAL FUND TYPES
FOR THE FISCAL YEAR ENDED DUNE 30, 2001
WITH COMPARATIVE AMOUNTS FOR THE FISCAL YEAR ENDED JUNE 30, 2000
TOTALS
GOVERNMENTAL FUND TYPES (Memorandum Only)
Capital Debt
Projects Service 2001 2000
REVENUES
Property tax increment $3,232,042 $3,232,042 $2,123,043
Interest $270,793 430,063 700,856 350,222
Other 63,161 63,161
Total Revenues 333,954 3,662,105 3,996,059 2,473,265
EXPENDITURES
Capital outlay
Project costs 1,477,109 1,477,109 1,148,050
Pass through payments 550,657 550,657 451,380
Debt service
Principal (Note 4) 135,000 135,000 114,583
Interest (Notes 3 and 4) 594,500 594,500 418,143
Total Expenditures 1,477,109 1,280,157 2,757,266 2,132,156
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (1,143,155) 2,381,948 1,238,793 341,109
OPERATING TRANSFERS
Operating transfers in
Operating transfers (out)
Total Operating Transfers
2,682,723 196,850
(196,850) (2,682,723)
2,485,873 (2,485,873)
2,879,573 1,660,179
(2,879,573) (1,660,179)
EXCESS OF REVENUES AND TRANSFERS
OVER EXPENDITURES 1,342,718 (103,925) 1,238,793 341,109
Fund balances at beginning of year
Fund balances at end of year
1,557,862 286,600 1,844,462 1,503,353
$2,900,580 $182,675 $3,083,255 $1,844,462
See accompanying notes to financial statements
3
REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS
COMBINED STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUNDS
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2001
CAPITAL PROJECTS
Variance
Favorable
Budget Actual (Unfavorable)
REVENUES
Interest $49,000 $270,793 $221,793
Other 63,000 63,161 161
Total Revenues 112,000
EXPENDITURES
Capital outlay:
333,954 221,954
Project costs 2,028,100 1,477,109 550,991
Total Expenditures 2,028,100 1,477,109 550,991
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OPERATING TRANSFERS
(1,916,100) (1,143,155) 772,945
Operating transfer in 436,800 2,682,723 2,245,923
Operating transfer (out) (196,850) (196,850)
EXCESS (DEFICIENCY) OF REVENUES AND
TRANSFERS OVER EXPENDITURES ($1,479,300) 1,342,718 $2,822,018
Fund balances at beginning of year 1,557,862
Fund balances at end of year $2,900,580
See accompanying notes to component unit financial statements
4
REDEVELOPMENT AGENCY OF TH 14.
TOWN OF LOS GATOS
Notes To Component Unit Financial Statements
NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES
A. Description of the Redevelopment Agency and Redevelopment Plan - The Redevelopment Agency
of the Town of Los Gatos (the Agency) was created on December 4, 1989 under the provisions of the
Redevelopment Law (California Health and Safety Code), for clearance and rehabilitation of areas
determined to be in a declining condition in the Project Area. A Redevelopment Plan was adopted on
November 25, 1991 to provide an improved physical, social and economic environment in the Central
Los Gatos Redevelopment Project Area.
As part of the Redevelopment Plan, the Agency entered into agreements with various taxing
authorities which required the Agency to pass through portions of incremental property taxes to each
taxing authority. Expenditures for these pass -through agreements amounted to $550,657 for the year
ended June 30, 2001. In addition, as of June 30, 2001 the Agency owed $1,560,968 in pass -through
amounts to other agencies.
The Agency is authorized to finance the Plan from various sources, including assistance from the
Town, the state and federal governments, property tax increments, interest income and the issuance of
Agency debt.
The Agency is an integral part of the Town of Los Gatos and, accordingly, the accompanying
financial statements are included as a component of the general purpose financial statements prepared
by the Town. A component unit is a separate governmental unit, agency or nonprofit corporation
which, when combined with all other component units, constitutes the reporting entity as defined in
the Town's general purpose fmancial statements.
B. Fund Accounting
In the Combined Financial Statements, these funds are grouped into the fund types and categories
discussed below. The financial statements for each individual fund in each fund type are presented in
the Combining Financial Statements section of this report.
GOVERNMENTAL FUNDS
Capital Projects Funds are used to account for financial resources to be used for the acquisition or
construction of major capital facilities (other than those financed by proprietary and trust funds).
Debt Service Funds are used to account for fmancial resources to be used for the payment of
principal and interest on long-term obligations.
ACCOUNT GROUPS
Account groups are used to establish accounting control for the Agency's general fixed assets and
principal of its general long-term obligations. Because these assets and liabilities are long-term they
are neither spendable resources nor do they require current appropriation. They are accounted for
separately from governmental fund types.
C. Basis of Accounting - Refers to when revenues and expenditures are recognized in the accounts and
reported in the component unit financial statements. Basis of accounting relates to the timing of the
measurements made, regardless of the measurement focus applied.
5
REDEVELOPMENT AGENCY OF THK;
TOWN OF LOS GATOS
Notes To Component Unit Financial Statements
NOTE 1- SIGNIFICANT ACCOUNTING POLICIES (Continued)
Governmental fund types are accounted for using the modified accrual basis of accounting, under
which revenues are recognized when received, or accrued when they become available and
measurable as net current assets. Expenditures are recognized when the related fund liability is
incurred. Revenues susceptible to accrual consist principally of intergovernmental revenues.
D. Budgets and Budgetary Accounting - The Agency adopts a budget effective July 1 for the capital
projects fund. During the year ended June 30, 2001 the Agency incurred encumbrances which are
reported as budgetary expenditures. However, since encumbrances represent commitments on open
purchase orders, they are not included as expenditures reported in conformity with generally accepted
accounting principles.
NOTE 2 - CASH AND INVESTMENTS
Agency cash is included in a Town -wide cash and investment pool. Details of the Town's cash and
investment pool are presented in the Town's general purpose financial statements.
The Town's investment policy and the California Government Code permit investments in obligations
of the U.S. Treasury and its agencies, commercial paper, banker's acceptances, repurchase
agreements, certificates of deposit, medium term notes, passbook savings account demand deposits,
mutual funds and the State of California Local Agency Investment Fund.
NOTE 3 — ADVANCE FROM THE TOWN
During fiscal year ended June 30, 2001 the Town advanced $1,968,500 to the Agency to partially
fund operations. The advance bears interest at 10% and is repayable on demand, provided that
sufficient tax increment revenue funds are available. For the fiscal year ended June 30, 2001 the
Agency paid the Town $196,850 in interest on this advance.
NOTE 4 - REIMBURSEMENT AGREEMENT
A. Accounting Treatment
The Town issued Certificates of Participation (COPs) in the original principal amount of
$2,960,000 dated August 1, 1992 to finance certain construction costs of the Town's Parking Lot 4
Project, which was constructed on land within the Central Los Gatos Project Area. The COPs are
similar to debt; they allow investors to participate in a share of guaranteed payments which are made
by the Town. Because they are similar to debt, the present value of the total of the payments to be
made is recorded as long-term debt. Principal payments are due annually on August 1, with interest
payments payable semi-annually on February 1 and August 1. The Town has pledged motor vehicle
license fee revenues as collateral for the repayment of the Certificates.
6
rci,DEVELOPIENT AGENCY OF THE
TOWN OF LOS GATOS
Notes To Component Unit Financial Statements
NOTE 4 - REIMBURSEMENT AGREEMENT (Continued)
To assist the Town in paying the cost of the acquisition and construction of the Parking Lot 4 Project,
the Town and its Redevelopment Agency entered into a Reimbursement Agreement. Under this
agreement, the Agency will use available net tax increment revenues resulting from the Project's
effect on land values to repay the Town for all lease payments made by the Town to the Agency under
the lease agreement for the Project. Net tax increment revenues are all taxes allocated to and paid into
the Redevelopment Agency Capital Projects Fund for the Project Area. Reimbursements under this
agreement commenced in fiscal 1995-96. Effective July 1, 1998 the COPs were transferred from the
Town's General Long -Term Debt Account Group to the Redevelopment Agency's. In addition, the
Parking Lot #4 Project, which was constructed with proceeds of the COPs, has been transferred and
included in the Agency's financial statements.
B. Activity
Changes in general long term debt were as follows:
Interest Maturity
Rates Date
Certificates of Participation 5%-9% 2012
Balance at
June 30,
2000 Retirements
Balance at
June 30,
2001
$2,320,000 $135,000 $2,185,000
Repayment requirements for general long term debt were as follows at June 30, 2001:
Year Ending June 30
2002
2003
2004
2005
2006
Thereafter
Total payments due
Less amount representing interest
Principal amount
Certificates
of
Participation
$246,883
248,738
245,846
247,396
248,236
1,693,738
2,930,837
745,837
$2,185,000
The Agency must maintain required amounts of cash and investments with the trustee under the terms
of the COPs issue. These funds are pledged as reserves to be used if the Town fails to meet its
obligations under the COPs issue. These reserves totaled $442,712 and $440,001 respectively, at
June 30, 2001 and 2000.
The California Government Code requires these funds to be invested in accordance with Town
ordinance, bond indentures or State statutes. All these funds have been invested as permitted under
the Code.
7
REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS
COMBINING BALANCE SHEETS
CAPITAL PROJECTS FUNDS
JUNE 30, 2001
WITH COMPARATIVE AMOUNTS FOR JUNE 30, 2000
ASSETS
Cash and investments
Intergovernmental receivable
Total Assets
LIABILITIES
Accounts payable
Total Liabilities
FUND EQUITY
Fund balances:
TOTALS
(Memorandum Only)
Housing
Redevelopment Set Aside 2001 2000
$2,091,699 $1,652,798 $3,744,497 $1,620,163
15,816
15,816 10,954
$2,091,699 $1,668,614 $3,760,313 $1,631,117
$609,733
609,733
$250,000 $859,733 $73,255
250,000 859,733
73,255
Reserved for :
Low income housing 1,418,614 1,418,614 1,007,521
Unreserved, undesignated 1,481,966 1,481,966 550,341
Total Fund Equity 1,481,966 1,418,614 2,900,580 1,557,862
Total Liabilities and Fund Equity $2,091,699 $1,668,614 $3,760,313 $1,631,117
See accompanying notes to component unit financial statements
8
REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS
COMBINING STATEMENTS OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUNDS
FOR THE FISCAL YEAR ENDED DUNE 30, 2001
WITH COMPARATIVE AMOUNTS FOR THE FISCAL YEAR ENDED TUNE 30, 2000
Redevelopment
REVENUE
TOTALS
(Memorandum Only)
Housing
Set Aside 2001 2000
Interest $179,426 $91,367 $270,793 $194,605
Other 63,161 63,161
Total Revenue
EXPENDITURES
Capital outlay:
Project costs
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OPERATING TRANSFERS
Operating transfer in
Operating transfer (out)
EXCESS (DEFICIENCY) OF REVENUES AND
TRANSFERS OVER EXPENDITURES
Fund balances at beginning of year
Fund balance at end of year
242,587 91,367
1,082,612 394,497
1,082,612 394,497
(840,025)
333,954 194,605
1,477,109 1,148,050
1,477,109 1,148,050
(303,130) (1,143,155) (953,445)
1,968,500 714,223 2,682,723 1,660,179
(196,850) (196,850)
931,625 411,093
1,342,718 706,734
550,341 1,007,521 1,557,862 851,128
S1.481,966 $1.418.614
See accompanying notes to financial statements
$2,900.580 $1.557.862
9
REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUNDS
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2001
REDEVELOPMENT HOUSING SET ASIDE
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUE
Interest $179,426 $179,426 $49,000 $91,367 $42,367
Other $63,000 63,1.61 161
Total Revenue
63,000 242,587 179,587 49,000 91,367 42,367
EXPENDITURES
Capital outlay:
Project costs 1,302,600 1,082,612 219,988 725,500 394,497 331,003
Total Expenditures 1,302,600 1,082,612 219,988 725,500 394,497 331,003
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (1,239,600) (840,025) 399,575 (676,500) (303,130) 373,370
OPERATING TRANSFERS
Operating transfer in
Operating transfer (out)
1,968,500 1,968,500 436,800 714,223 277,423
(196,850) (196,850)
EXCESS (DEFICIENCY) OF REVENUES AND
TRANSFERS OVER EXPENDITURES ($1,239,600) 931,625 $2,I71,225 ($239,700) 411,093 $650,793
Fund balances at beginning of year
Fund balances at end of year
550,341 1,007,521
81.481.966 $1.418.614
See accompanying notes to component unit financial statements
10
TOTALS
Variance
Favorable
Budget Actual (Unfavorable)
$49,000 $270,793 8221,793
63,000 63,161 161
112,000
2,028,100
2,028,100
333,954 221,954
1,477,109 550,991
1,477,109 550,991
(1,916,100) (1,143,155) 772,945
436,800 2,682,723 2,245,923
(196,850) (196,850)
($1,479,300)
1,342,718 $2,822,018
1,557,862
$2,900.580
11
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12
AZE
A SSO C6.;' ; TES
ACCOUNTANCY CORPORATION
1931 San Miguel Drive - Suite 100
Walnut Creek, California 94596
(925) 930-0902 • FAX (925) 930-0135
E-Mail: maze@mazeassociates.com
Website: www.mazeassociates.com
REPORT ON COMPLIANCE AND ON INTERNAL
CONTROL OVER FINANCIAL REPORTING BASED
ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED lei T ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
To the Governing Board of the
Redevelopment Agency of the Town of Los Gatos, California
We have audited the financial statements of the Redevelopment Agency of the Town of Los Gatos as of and for
the year ended June 30, 2001, and have issued our report thereon dated October 31, 2001. We conducted our
audit in accordance with generally accepted auditing standards and the standards applicable to financial audits
contained in Government Auditing Standards, issued by the Comptroller General of the United States.
Compliance
As part of obtaining reasonable assurance about whether the Agency's financial statements are free of material
misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and
grants, noncompliance with which could have a direct and material effect on the determination of financial
statement amounts. Those provisions include provisions of laws.and regulations identified by in the Guidelines
for Compliance Audits of California Redevelopment Agencies, issued by the State Controller. However,
providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly,
we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are
required to be reported under Government Auditing Standards.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the Agency's internal control over financial reporting in
order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements
and not to provide assurance on the internal control over financial reporting. Our consideration of the internal
control over financial reporting would not necessarily disclose all matters in the internal control over financial
reporting that might be material weaknesses. A material weakness is a condition in which the design or
operation of one or more of the internal control components does not reduce to a relatively low level the risk
that misstatements in amounts that would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal course of performing their
assigned functions. We noted no matters involving the internal control over financial reporting and its
operation that we consider to be material weaknesses.
This report is intended for the information of the Agency Board, management and federal awarding agencies
and pass -through entities. However, this report is a matter of public record and its distribution is not limited.
•
October 31, 2001
13
A Professional Corporation
This Page Left Intentionally Blank
HCD ANNUAL REPORT OF HOUSING ACTIVITY
OF COMMUNITY REDEVELOPMENT AGENCIES
FOR FISCAL YEAR ENDED 6 /30 / 01
Agency Name and Address: County of Jurisdiction:
Los Gatos Redevelopment Agency Santa Clara
110 E. Main Street, Los Gatos, CA 95030
P.O. Box 949, Los Gatos, CA 95031
California Redevelopment law (Health and Safety Code Section 33080.1) requires agencies to annually report their housing activities and
maintenance and use of the Low & Moderate Income Housing Fund (LMIHF) to enable the Department of Housing and Community
Development (HCD) to compile and annually publish a report on redevelopment agencies' housing activities in accordance with Section
33080.6. (Note: Pursuant to Section 33080.3, submit this fonn and, if applicable, all completed HCD Schedules, to the State Controller.)
Please answer each question below. Your answers determine which HCD SCHEDULES must be completed in order for the agency to
fulfill the statutory requirement to report LMIHF housing activity and fund balances for the reporting period.
1. Check one of the items below to identify the Agency's status at the end of the reporting period:
❑ New (Agency formation occurred during reporting year. No financial transactions were completed).
® Active (Financial and/or housing transactions occurred during the reporting year)
❑ Inactive (No financial and/or housing transactions occurred during the reporting year).
❑ Dismantled (Agency adopted an ordinance to dissolve itself).
2. How many adopted proiect areas did the agency have during the reporting period? 1
How many project areas were merged during the reporting period? 0
If the agency has one or more adopted project areas, complete SCHEDULE HCD-A for each project area.
If the agency has no adopted project areas, DO NOT complete SCHEDULE HCD-A.
3, Within an area outside of any adopted redevelopment project area(s): (1) did the agency destroy or remove any dwelling units
or displace any households over the reporting period, (2) will the agency displace any households over the next reporting period,
(3) did the agency permit the sale of any owner -occupied unit prior to the expiration of land use controls, and/or (4) did the agency
execute a contract or agreement for the construction of any affordable units over the next two years?
❑ Yes (any question). Complete SCHEDULE HCD-B.
2 No (all questions). DO NOT complete SCHEDULE HCD-B.
4. Did the agency have anv funds in the Low & Moderate Income Housing Fund during the reporting period?
® Yes. Complete SCHEDULE HCD-C.
❑ No. DO NOT complete SCHEDULE HCD-C.
5. During the reporting period, were housing units completed within a project area and/or assisted by the agency outside a project area?
Yes. Complete all applicable HCD SCHEDULES D 1-D7 for each housing project completed and HCD SCHEDULE E.
❑ No. DO NOT complete HCD SCHEDULES D1-D7 or HCD SCHEDULE E.
6. HCD financial and housing activity information has been reported using the method checked below:
® Electronic. Report was completed on-line. "Lock Report" date was: . HCD SCHEDULES are riot required.
Note: "Lock Report" date is shown under "Administrative Area" and "Form History" (https://appl.hcd.ca.gov/rda).
® Forms. All required HCD SCHEDULES A. B, C, D1-D7, and E are attached.
To the best of my knowledge, the representations made above and all HCD information reported are correct.
Date Signature of Authorized Agency Representative
Title
Telephone Number
SUBMIT THIS FORM AND, IF APPLICABLE, ALL HCD SCHEDULES TO:
STATE CONTROLLER
Division of Accounting and Reporting
Local Government Reporting Section
P.O. Box 942850, Sacramento, CA 94250
California Redevelopment Agencies - Fiscal Year 2000-2001 HCD-Cover
Cover (7!I1101)
Page 1 of 1
Exhibit B
SCHEDULE HCD-A
Inside Project Area Activity
for Fiscal Year Ended 6 / 30 / 01 i.
Agency Name: Los Gatos Redevelopment Agencyproject Area Name: Penj :Central Area Redevelopment
Preparer's Name, Title: Marty Woodworth Preparer's E-Mail Address: mwoodworth@town. los—gatos . ca.us
Redevelopment Manager
Preparer's Telephone No: 408 / 354-6819 Preparer's Facsimile No: 408 / 35 4-75 9 3
GENERAL INFORMATION
1. Project Area Information
a Year that plan for project area was adopted: 1991 Current expiration of redevelopment plan:
b. If project area name has changed, give previous name(s) or number: N/A
c. Year(s) of any mergers of the project area: N/A,
Identify former project areas that merged:
12 / 31 / 31
mo day yr
d. Year(s) project area plan was amended and real property was either:
(1) added: N/,A ,
(2) removed:
2. Affordable Housing Replacement and/or Inclusionary or Production Requirements (Section 33413).
Pre-1976 project areas not subsequently amended after 1975: Pursuant to Section 33413(d), only Section 33413(a) replacement
requirements apply to dwelling units destroyed or removed after 1995. The Agency can choose to apply all or part of Section
33413 to a project area plan adopted before 1976. If the agency has elected to apply all or part of Section 33413, provide the
date and the applicable Section 33413 requirements addressed in the scope of the resolution.
Date: N/A/ / Resolution Scope (applicable Section 33413 requirements):
mo day yr
Post-1975 project areas and geographic areas added by amendment after 1975 to pre-1976 project areas: Both the replacement
and inclusionary or production requirements of Section 33413 apply.
NOTE:
Amounts to report on HCD-A lines 3a(1), 3b-3f, and 3i. can be taken from what is reported to the State Controller's
Office (SCO) on the Statement of Income and Expenditures as part of the Redevelopment Agencies Financial
Transactions Report, except for the reclassifying of Transfers -In from Internal Funds and the reporting of Other
Sources as discussed below:
Transfers -In from other internal funds: Report the amount of transferred funds on applicable HCD-A,
lines 3a-j. For example, report the amount transferred from the Debt Service Fund to the Housing Fund
for the deposit of the 20% set -aside by reporting gross tax increment on HCD-A, Line 3a(1) and the
Housing Fund's share of expenditures for debt service on HCD-C, Line 4c. Do not report "net" funds
transferred from the Debt Service Fund on HCD-A, Line 3a(3)
Other Sources: Non-GAAP (Generally Acceptable Accounting Principles) revenues such as land sales for
those agencies using the Land Held for Resale method to record land sales should be reported on HCD-A
Line 3d. Money received for the repayment of loan principal to the Housing Fund should be included on
HCD-A Line 3h.
California Redevelopment Agencies — Fiscal Ycar 2000.2001 HCD-A
Sch A (7/1/01)
Page 1 of 6
Agency Name: Los Gatos Redevelopment Agency Project Area Name: Central Los Gatos
Redevelopment Project
Project Area Housing Fund Revenues and Other Sources
3. Report all revenues and other sources of funds from this project area which accrued to the Housing Fund over the reporting
year. Any income related to agency -assisted housing located outside the project area(s) should be reported as "Other
Revenue" on Line 3j. (of this Schedule A), if this project area is named as beneficiary in the authorizingresolution. Any
other revenue sources not reported on Lines 3a.-3i., should also be reported on Line 3j.
Enter on Line 3a(1) the full 100% of gross Tax Increment allocated prior to applicable pass through of funds and deductions
for fees (refer to Sections 33401, 33446, & 33676). Compute 20% of gross Tax Increment and enter the amount on Line
3a(2). Next, report the amount of Tax Increment set -aside before any exemption and/or deferral (if amount set -aside is less
than 20%, explain the difference). If any amount of Tax Increment was exempted or deferred, in addition to completing
lines 3a(4) and/or 3a(5), complete Line 4 and/or Line 5. To determine the amount of Tax Increment deposited to the
Housing Fund [Line 3a(6)], subtract allowable amounts exempted [Line 3a(4)] or deferred [Line 3a(5)] from the actual
amount allocated to the Housing Fund [Line 3a(3)].
a. Tax Increment:
(1) 100% of Gross AIlocation: $ 3,232,042
(2) Required 20% Housing Fund set -aside (Line 3a(1) x 20%): $ 646,408
(3) Actual amount allocated to Housing Fund $ 714,223 *
* If less than 20% of the Gross Tax Increment (see 3a(2) above) is being
set -aside in this project area in accordance with Section 33334.3(i), identify
the project area(s) contributing the difference. Explain any other reason(s):
(4) Amount Exempted [Health & Safety Code Section 33334.2]
(if there is an amount exempted, also complete question #4, next page):
(5) Amount Deferred [Health & Safety Code Section 33334.6]
(if there is an amount deferred, also complete question #5, next page):
(6) Total deposit to the Housing Fund [result of Line 3a(3) through 3a(5)]:
($ )
($ )
$ 714,223
b. Interest Income: $ 91,367
c. Rental/Lease Income (combine amounts separately reported to the SCO): S
d. Sale of Real Estate: $
e. Grants (combine amounts separately reported to the SCO): $
f. Bond Administrative Fees: $
g. Deferral Repayments (also complete Line 5c(2) on the next page): $
h. Loan Repayments:
i. Debt Proceeds: $
j. Other Revenue(s) [Explain and identify amount(s)]:
k. Total Housing Fund Deposits for this Project Area (add lines 3a(6). through 3j.):
S 805,590
California Redevelopment Agencies — Fiscal Year 2000-2001
Sch A (7/1/01)
HCD-A
Page 2 of 6
JAgency Name: Los Gatos Redevelopment Agency Project Area Name: Central Los Gatos
per,
Ex emptio n(s)
4. If an exemption was claimed on Line 3a(4) to deposit less than the required amount, complete the following information:
Current Resolution # Resolution Date: / / Date Resolution with facts sent to HCD: / N/4
mo day
mo day yr
Redevelopment .l eL-
Check onlv one of the Health and Safety Code Sections below providing a basis for the exemption:
❑ Section 33334.2(a)(1): No need in community to increase/improve supply of lower or moderate income housing.
❑ Section 33334.2(a)(2): Less than 20% set -aside is sufficient to meet the need.
❑ Section 33334.2(a)(3): Community is making substantial effort equivalent in value to 20% set -aside and has specific
contractual obligations incurred before May 1, 1991 requiring continued use of this funding.
Note: Pursuant to Section 33334.2(a)(3)(C), this exemption expired on June 30,1993 but
contracts entered into prior to May 1, 1991 may not be subject to the exemption sunset.
Date initial finding was adopted: / / Resolution #
mo day yr
Date sent to HCD / /
mo day yr
❑ Other: Specify code section and reason:
yr
Deferral(s)
5. a. Specify the authority for deferring any set -aside on Line 3a(5). Check only one Health and Safety Code Section boxes:
❑ Section 33334.6(d): Applicable to project areas approved before 1986 in which the required resolution was sent to HCD
before September 1986 regarding needing tax increment to meet existing obligations. Existing obligations can include those
incurred after 1985, if net proceeds were used to refinance pre-1986 listed obligations.
Date initial findingwas adopted: / / Resolution # Date sent to HCD: / NSA
mo day yr mo day yr
Note: The previous allowable deferral under Section 33334.6(e) expired. It was
only allowable in each fiscal year prior to July 1,1996 with certain restrictions.
❑ Other: Specify code Section and reason:
b. If current vear finding was adopted for any deferral claimed on lines 3a(5) and 5.a., provide the date: / N//
mo day yr
Date sent to HCD:
mo day yr
c. A deferred set -aside pursuant to Section 33334.6(d) constitutes an indebtedness to the Housing Fund. Summarize the
ar
If applicable, identify Resolution #
Fiscal Year
Amount Deferred
Amount of Prior
Deferrals Repaid
Cumulative Amount
Deferred (Net of Any
Amount(s) Repaid)
This Reporting FY
During Reporting FY
(1) Prior Reported FY
$ ' '' .
. r
$
(2) This Reporting FY
$
$
$ * *
* The cumulative amount of deferred set -aside should also be shown on HCD-C, Line 8a. I
If the prior FY cumulative deferral shown above differs from what was reported on the last HCD report (HCD-A and
HCD-C), indicate the amount of difference and the reason:
Difference: $ Reason:
California Redevelopment Agencies — Fiscal Year 2000-2001
Sch A (7/1/01)
HCD-A
Page 3 of 6
Agency Name: Los Gatos Redevelopment Agency
Deferral(s) (continued)
5.
Project Area Name: Central Los Gatos
Redevelopment Project
d. Section 33334.6(g) requires any agency which defers set -asides to adopt a plan to eliminate the deficit in subsequent years. If
this agency has deferred set -asides, has it adopted such a plan? Yes ❑ No N/A
If yes, by what date is the deficit to be eliminated?
mo day
n
If yes, when was the original plan adopted for the claimed deferral? / /
mo day yr
Identify Resolution # Date Resolution sent to HCD / /
ino day yr
When was the last amended plan adopted for the claimed deferral? / /
mo day
yr
Identify Resolution # Date Resolution sent to HCD / /
mo day yr
Actual Project Area Households Displaced and Units and Bedrooms Lost Over Reporting Year:
6. a. Redevelopment Project Activity. Pursuant to Sections 33080.4(a)(1) and (a)(3), report by income category the number of
elderly and nonelderly households permanently displaced and the number of units and bedrooms removed or destroyed, over the
reporting year, that are subject to the replacement requirements of Section 33413. N/A
Number of Households/UnitsBedr
Income Level
VL
L
M
AM
Total
Households Permanently Displaced - Elderly
Households Permanently Displaced - Non Elderly
Households Permanently Displaced -Total
Units Lost (Removed or Destroyed) and Required to be Replaced
Bedrooms Lost (Removed or Destroyed) and Required to be Replaced
Above Moderate Units Lost That Agency is Not Required to Replace
Above Moderate Bedrooms Lost That Agency is Not Required to Replace
b. Other Activity. Pursuant to Sections 33080,4(a)(1) and (a)(3) based on activities other than the destruction or removal of
dwelling units and bedrooms reported on Line 6a, report by income category the number of elderly and nonelderly households
permanently displaced over the reporting year: N/A
Num
Income Level
VL
L
M
AM
Total
Households Permanently Displaced - Elderly
Households Permanently Displaced - Non Elderly
Households Permanently Displaced - Total
c. As required in Section 33413.5, identify, over the reporting year, each replacement housing plan required to be adopted
before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households
reported on lines 6a. and 6b. N/A
Date / /
mo day yr
Date / /
mo day yr
Date / /
no day yr
Name of Agency Custodian
Name of Agency Custodian
Name of Agency Custodian
Please attach a separate sheet of paper listing any additional housing plans adopted.
California Redevelopment Agencies — Fiscal Year 2000-200I
Sch A (7/I /0I )
HCD-A
Page 4 of 6
Agency Name: Los Gatos Redevelopment Agency Project Area Name: Central Los Gatos
Redevelopment Project.
Estimated Proiect Area Households to be Permanently Displaced Over Current Fiscal Year:
7. a. As required in Section 33080.4(a)(2) for a redevelopment project of the agency, estimate, over the current fiscal year,
the number of elderly and nonelderly households, by income category, expected to be permanently displaced outside of
project area(s). (Note: actual displacements will be reported next year on Line 6). N/A
Estimated Permanent Displacements
Income Level
VL
•
L Vv
V MVUJy.V1AM
Total
Households Permanently Displaced - Elderly
Households Permanently Displaced - Non Elderly
Households Permanently Displaced - Total
b. As required in Section 33413.5, for the current fiscal year, identify each replacement housing plan required to be adopted before
the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported in 7a.
Date / /
mo day yr
Date / /
mo day yr
Date / /
mo day yr
Name of Agency Custodian
Name of Agency Custodian
Name of Agency Custodian
Please attach a separate sheet of paper listing any additional housing plans adopted.
N/A
Units Developed Inside the Project Area to Fulfill Requirements of Other Project Area(s)
8. Pursuant to Section 33413(b)(2)(A)(v), agencies may choose one or more project areas to fulfill another project area's requirement
to construct new or substantially rehabilitate dwelling units, provided the agency conducts a public hearing and finds, based on
substantial evidence, that the aggregation of dwelling units in one or more project areas will not cause or exacerbate racial, ethnic,
or economic segregation. N/A
Were any dwelling units in this project area developed to partially or completely satisfy another project area's requirement to
construct new or substantially rehabilitate dwelling units?
❑ No.
❑ Yes. Date initial finding was adopted? / / Resolution # Date sent to HCD: / /
mo day yr
mo • day yr
Name of Other Project Area(s)
VL
L
M
AM
Total
California Redevelopment Agencies — Fiscal Year 2000-2001
Sch A (7/1/01)
HCD-A
Page 5 of 6
Agency Name: Los Gatos BedPvPlopment Agpnwy Project Area Name: Central Los Gatos
Redevelopment Proj ect
Sales of Owner -Occupied Units Inside the Project Area Prior to the Expiration of Land Use Controls
9. Section 33413(c)(2)(A) specifies that pursuant to an adopted program, which includes but is not limited to an equity sharing program,
agencies may pennit the sale of owner -occupied units prior to the expiration of the period of the land use controls established by the
agency. Agencies must deposit sale proceeds into the Low and Moderate Income Housing Fund and within three (3) years from the
date the unit was sold, expend funds to make another unit equal in affordability, at the same income level, to the unit sold.
a. Sales. Did the agency permit the sale of any owner -occupied units during the reporting year? N/A
❑No
EYes
$ Total Proceeds From Sales Over Reporting Year
Number of Units
Income Level
VL
L
M
Total
Units Sold Over Reporting Year
b. Equal Units. Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years?
❑No
❑Yes
$ Total Proceeds From Sales Over Reporting Year
Number of Units
Income Level
VL
L
M
Total
Units Made Equal in Reporting Year to Units Sold Over Reporting Year
Units Made Equal in Reporting Year to Units Sold Two Reporting Years Ago
Units Made Equal in Reporting Year to Units Sold Three Reporting Years
Ago
Affordable Units to be Constructed Inside the Project Area Within Two Years
10. Pursuant to Section 33080.4(a)(10), report the number of very low, low, and moderate income units to be financed by any federal,
state, local, or private source in order for construction to be completed within two years from the date of the agreement or contract
executed over the reporting year. Identify the project and/or contractor, date of the executed agreement or contract, and estimated
completion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on
HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two years from the
reporting year's agreement or contract date. N/A
DO NOT REPORT ANY UNITS SHOWN ON SCHEDULES HCD-A OR HCD-Ds.
Col A
Col B
Col C
CoI D
Col E
VL
L
M
Total
Name of
Project and/or
Contractor
Agreement
Execution
Date
Estimated
Completion Date
(w/in 2 yrs of Col B)
Sch C Amount
Encumbered
[Line 6a]
Sch C Amount
Designated
[Line 7a]
$
$
$
$
$
$
$
$
Please attach a separate sheet of paper to list additional information.
California Redevelopment Agencies — Fiscal Year 2000-2001
Sch A (7/1/01)
HCD-A
Page 6 of 6
SCHEDULE HCD-C
Agency -wide Activity
for Fiscal Year Ended 6 / 30 / 01
Agency Name: Los Gatos Redevelopment Agenc3County: Santa Clara
Preparer's Name, Title: Steve Conway Prepares E-Mail Address: sconway@town.los—gatos. ca.us
Finance Director
Preparer's Telephone No: 408/354-6878 Preparer's Facsimile No: 408/154-8411
Low & Moderate Income Housing Funds
Report on the "status and use of the agency's Low and Moderate Income Housing Fund." Most information reported here should
be based on information reported to the State Controller.
1. Beginning Balance (Use "Net Resources Available" from last year's HCD-C)
a. If Beginning Balance requires adjustment(s), identify the reason and amount for each adjustment:
Use <S> for negative amounts or amounts to be subtracted
S
$
b. TotaI Adjustment(s) (indicate whether positive or <negative>)
c. Adjusted Beginning Balance [Beginning Balance plus + or minus <-> Total Adjustment(s)]
2. Project Area(s) Receipts and Housing Fund Revenues
a. All Project Areas. Total Deposits [Sum of amount(s) from Line 3k.,HCD-A(s)]
b. Other revenues not reported on Schedule HCD-A(s) [Identify source(s) and amount(s)]:
c. Total Housing Fund Revenues
3• Total Resources (Line lc. + Line 2a + Line 2c.)
$ 1,007,521
$ 1,007,521
$ 805,590
$ 1,813,111
NOTES:
Many amounts to report as Expenditures and Other Uses (beginning on the next page) should be taken from amounts reported
to the State Controller's Office (SCO). Review the SCO's Redevelopment Agencies Financial Transactions Report.
Transfers -out to other internal funds: Report the specific use of all transferred funds on applicable lines 4a.-k of Schedule C.
For example, transfers from the Housing Fund to the Debt Service Fund for the repayment of debt should be reported on the
applicable item comprising HCD-C Line 4c, providing gross tax increment was reported on Sch-As. Any transfers out of
the Agency (for example: the transfer of excess surplus funds to a county Housing Authority) should be reported on HCD-C
Line 4j(2).
Other Uses: Non-GAAP (Generally Accepted Accounting Principles) recording of expenditures such as land purchases for
certain agencies using the Land Held for Resale method to record land purchases should be reported on HCD-C Line 4a(1).
Money spent on loans from the Housing Fund should be included in HCD-C lines 4b., 4f., 4g., 4h., and 4i as appropriate.
The statutory cite pertaining to Community Redevelopment Law (CRL) is provided for preparers to review to determine
the appropriateness of Low and Moderate Income Housing Fund (LMIHF) expenditures and other uses. HCD does
not represent that line items identifying any expenditures and other uses are allowable. CRL is accessible on the Internet
[website: http://www.leginfo.ca.gov/ (California Law)] beginning with Section 33000 of the Health andSafety Code.
California Redevelopment Agencies - Fiscal Year 2000-2001
Sch C (7/1/01)
HCD-C
Page 1 of8
Agency Name: Los Gatos Redevelopment Agency
4. Expenditures and Other Uses
a. Acquisition of Property & BuiIdine Sites f33334.2(e)(1)1 & Housinaf 33334.2(e)(6)j:
(1) Land Assets (Investment — Land Held for Resale) * $
(2) Housing Assets (Fixed Asset) * $
(3) Acquisition Expense $
(4) Operation of Acquired Property
(5) Relocation Costs $
(6) Relocation Payments $
(7) Site Clearance Costs $
(8) Disposal Costs $
(9) Other [Explain and identify amount(s)]:
$
$ $
* Reported to SCO as part of Assets and Other Debts
(10) Subtotal Property/Building Sites/Housing Acquisition (Sum of Lines 1 — 9) $
b. Subsidies from Low and Moderate Income Housing_Fund (LMIHF):
(1) 15` Time Homebuyer Down Payment Assistance $
(2) Rental Subsidies $
(3) Purchase of Affordability Covenants [33413(b)2(B)] $
(4) Other [Explain and identify amount(s)]:
Community Housing Trust $ 250,000 $
—0—
(5) Subtotal Subsidies from LMIHF (Sum of Lines 1 — 4) $ 250,000
c. Debt Service [33334.2(e)(9)]. Report LMIHF's share of debt service. If paid from
Debt Service Fund, ensure "gross" tax increment is reported on HCD-A(s) Line 3a(1).
(1) Debt Principal Payments
(a) Tax Allocation, Bonds & Notes $
(b) Revenue Bonds & Certificates of Participation $
(c) City/County Advances & Loans $
(d) U. S. State & Other Long —Tenn Debt $
(2) Interest Expense $
(3) Debt Issuance Costs $
(4) Other [Explain and identify amount(s)]:
$
(5) Subtotal Debt Service (Sum of Lines 1 — 4) $
d. Planning. and Administration Costs 133334.3(e)(1)1
(1) Administration Costs $ 112,267
(2) Professional Services (non project specific) $ 32,229
(3) Planning/Survey/Design (non project specific) $
—0—
(4) Indirect Nonprofit Costs [33334.3(e)(1)(B)] $
(5) Other [Explain and identify amount(s)]:
(6) Subtotal Planning and Administration (Sum of Lines 1- 5)
$ 144,496
California Redevelopment Agencies - Fiscal Year 2000-2001
Sch C (7/1/01)
HCD-C
Page 2 of 8
Agency Name: Los Gatos Redevelopment Agency
4. Expenditures and Other Uses (continued)
e. On/Off-Site Improvements [33334.2(e)(2)] Complete item 13
f. Housing Construction [33334.2(e)(5)]
g. Housing Rehabilitation [33334.2(e)(7)]
h. Maintenance of Mobilehome Parks [33334.2(e)(10)]
i. Preservation of At -Risk Units [33334.2(e)(11)]
j. Transfers Out of Agency
(1) For Transit village Development Plan (33334.19)
(2) Excess Surplus [33334.12(a)(1)(A)] $
(3) Other (specify code section authorizing transfer and amount)
A. Section $
B. Section
Other Transfers Subtotal $
(4) Subtotal Transfers Out of Agency (Sum of j(1) through j(3))
k. Other Expenditures and Uses [Explain and identify amount(s)]:
Rounding Adjustment $ 1
$ -0-
s
Subtotal Other Expenditures and Uses
1. Total Expenditures and Other Uses (Sum of lines 4a.-k.)
5. Net Resources Available [End of Reporting Fiscal Year]
[Page 2, Line 3, Total Resources minus Total Expenditures and Other Uses on Line 4.1.] $ 1 418 , 614
$ —0-
$ 394,497
6. Encumbrances and Unencumbered Balance
a. Encumbrances. Amount of Line 5 reserved for future payment of legal contract(s)
or agreement(s). See Section 33334.I2(g)(2) for definition.
Refer to item 10 on Sch-A(s) and item 4 on Sch-B.
b. Unencumbered Balance (Line 5 minus Line 6a). Also enter on Page 4, Line 1 la.
7. Designated/Undesignated Amount of Available Funds
a Designated Amount of Line 6b. budgeted/planned to use near -term
Refer to item 10 on Sch-A(s) and item 4 on Sch-B
b. Undesignated Amount of Line 6b. not yet budgeted/planned to use
—0—
$ -0-
8. Other Housing Fund Assets (not included as part of Line 5)
a. Indebtedness from Deferrals of Tax Increment (Sec. 33334.6)
[refer to Sch-A(s), Line 5c (2)]. $
b. Value of Land Purchased with Housing Funds and Held for
Development of Affordable Housing. Complete Sch-C item 14. $
c. Loans Receivable for Housing Activities $
d. Residual Receipt Loans (periodic/fluctuating payments) $
e. ERAF Loans Receivable (all years) (Sec. 33681) $
f. Other Assets [Explain and identify amount(s)]:
$
5
g• Total Other Housing Fund Assets (Sum of lines 8a.-f.) $ —0-
9. TOTAL FUND EQUITY[Line 5 (Net Resources Available) +8g (Total Other Housing Fund Assets]$
1,418,614
Compare Line 9 to the below amount reported to the SCO (Balance Sheet of Redevelopment Agencies
Financial Transactions Report. [Explain differences and identify amount(s)]:
ENTER LOW -MOD FUND TOTAL EQUITIES (BALANCE SHEET) REPORTED TO SCO
California Redevelopment Agencies - Fiscal Year 2000-2001
Sch C (7/1/01)
HCD-C
Page 3 of 8
Agency Name:
Excess Surplus
Pursuant to Section 33080.7 and Section 33334.12(g)(1), report on Excess Surplus that is required to be determined on the first day
of a fiscal year. Excess Surplus exists when the Adjusted Balance exceeds the greater of: (1) $1,000,000 or (2) the aggregate amount
of tax increment deposited to the Housing Fund during the four prior fiscal years. Section 33334.12(g)(3)(A) and (B) provide that
the Unencumbered Balance can be adjusted for: (1) any remaining revenue generated in the reporting year from unspent debt proceeds
and (2) if the land was disposed of during the reporting year to develop affordable housing, the difference between the fair market value
of land and the value received.
The Unencumbered Balance is calculated by subtracting encumbrances from Net Resources Available. "Encumbrances" are funds
reserved and committed pursuant to a legally enforceable contract or agreement for expenditure for authorized redevelopment housing
activities [Section 33334.12(g)(2)].
For Excess Surplus calculation purposes, carry over the prior year's HCD Schedule C Adjusted Balance as the Adjusted Balance on the
first day of the reporting fiscal year. Determine which is larger: (1) $1 million or (2) the total of tax increment deposited over the prior
four years. Subtract the largest amount from the Adjusted Balance and, if positive, report the amount as Excess Surplus.
10. Excess Surplus:
Los Gatos Redevelopment Agency
Fill in the below table to calculate Excess Surplus for the reporting year and track the balance of prior years' Exce
Colman 1
Column 2
Column 3
Column 4
Cohunn 5
Column 6
Column 7
Prior and
Current
Reporting
Years
Total Tax
Increment
Deposits to
Housing Fund
Sum of Tax '
Increment
Deposits Over
Prior Four
FYs
Current
Reporting Year
1" Day
Adjusted
Balance
Current
Reporting Year
1" Day
Excess Surplus
Balances
Amount
Expended/Encumbered
Against FY Balance of
Excess Surplus as of
End of Reporting Year
Remaining Excess
Surplus for Each
Fiscal Year as of
End of Reporting Year
4 Years Prio
$158,002
...,
Sum of Column 2 Last Year's Sch C
$
$
$
3 Years Prio
$226,560
$
$
$
2 Years Prio
$319,524
$
$
$
1 Year Prior
$424, 612
Current
Reporting
Year
Col 4 minus: larger
$
$
$1,128,698
Adjusted Balance
of Col 3 or $lmm
$1,007,521
(report positive $)
$ —0—
11, Reporting Year Ending Unencumbered Balance and Adjusted Balance:
a. Unencumbered Balance (End of Year) [Page 3, Line 6b]
b. If eligible, adjust the Unencumbered Balance for:
(1) Debt Proceeds [33334.12(g)(3)(B)]:
Identify unspent debt proceeds and related income remaining at end of reporting year $
(2) Land Conveyance Losses [(33334.12(g)(3)(A))]:
Identify reporting year losses from sales/grants/leases of land acquired with low -mod funds,
if 49% or more of new or rehabilitated units will be affordable to lower -income households $
$1,418,614
12. Adjusted Balance (for next year's determination of Excess Surplus) [Line 11a minus sum of 11b(1) and 11b(2)]
$1,418,614
Note: Do not enter Adjusted Balance in Col 4. It is to be reported as next year's 1st day amount to determine Excess
Surplus
a. If there is remaining Excess Surplus from what was determined on the first day of the reporting year, describe
the agency's plan (as specified in Section 33334.10) for transferring, encumbering, or expending excess surplus:
b. If the plan described in 12a. was adopted, enter the plan adoption date: / /
Califomia Redevelopment Agencies - Fiscal Year 2000-2001 HCD-C
Sch C (7/1/01) Page 4 of 8
Agency Name:Los Gatos Redevelopment Agency
Miscellaneous Uses of Funds N/A
13. If an amount is reported in 4e., pursuant to Section 33080.4(a)(6), report the total number of very low-, low-, and moderate -income
households that directly benefited from expenditures for onsite/offsite improvements which resulted in either new construction,
rehabilitation, or the elimination of health and safety hazards. (Note: If Line 4e of this schedule does not show expenditures for
improvements, no units should be reported here.)
Income
Level
Households
Constructed
Households
Rehabilitated
Households Benefiting
from Elimination of
Health and Safety Hazard
Duration of Deed Restriction
Very Low
Low
Moderate
14, If the agency is holding land for future housing development (refer to Line 8b), summarize the acreage (round to tenths, do not
report square footage), zoning, date of purchase, and the anticipated start date for the housing development. N/A
Site Name/Location*
No. of
Acres
Zoning
Purchase
Date
Estimated Date
Available
Comments
Please attach a separate sheet of paper listing any additional sites not reported above.
15. Section 33334.13 requires agencies which have used the Housing Fund to assist mortgagors in a homeownership mortgage revenue
bond program, or home financing program described in that Section, to provide the following information:
a. Has your agency used the authority related to definitions of income or family size adjustment factors provided in Section
33334.13(a)?
Yes E No ❑ Not Applicable
b. Has the agency complied with requirements in Section 33334.13(b) related to assistance for very low-income households equal
to twice that provided for above moderate -income households?
Yes ❑ No ❑ Not Applicable al
California Redevelopment Agencies - Fiscal Year 2000-2001
Sch C (7/1/01)
HCD-C
Page 6 of 8
Agency Name: Los Gatos Redevelopment Agency
16. Did the Agency use non-LM1HF funds as matching funds for the Federal HOME or HOPE program during the reporting period?
YES ❑ NO
If yes, please indicate the amount of non-LMIHF funds that were used for either HOME or HOPE program support.
HOME S HOPE S
17. Pursuant to Section 33080.4(a)(11), the description of the agency's activities must include the date and amount of all LMIHF
deposits and withdrawals during the reporting period. To satisfy this requirement, the Agency should keep deposit and withdrawal
information on hand to be submitted, upon request, to HCD or any member of the public.
Has your agency made any deposits to or withdrawals from the LMIHF? Yes ® No ❑
If yes, identify the document(s) describing the agency's deposits and withdrawals by listing for each document, the following (attach
additional pages of similar information as necessary):
Name of document:
See Attachments
Date of document: 12 / 13 / 01
Name of Agency Custodian:
Custodian telephone number:
Where to obtain a copy:
Name of document:
mo day yr
Town of Los Gatos
(408) 354-6828
110 E Main ctrPPt
Los Gatos, CA 95030
Date of document: / /
Name of Agency Custodian:
Custodian telephone number:
Where to obtain a copy:
mo day yr
18. Use of Other Redevelopment Funds for Housing
Please briefly describe the use of any non-LMIHF redevelopment fiords (i.e., contributions from the other 80% of tax increment
revenue) to construct, improve, assist, or preserve housing in the conununity. N/A
19. Suggestions/Resource Needs
Please provide suggestions to simplify and improve future agency reporting and identify any training, infonnation, and/or other
resources, etc. that would help your agency to more quickly and effectively use its housing or other fiends to increase, improve, and
preserve affordable housing? None
California Redevelopment Agencies - Fiscal Year 2000-2001
Sch C (7/1/01)
HCD-C
Page 7 of 8
12/13/01 TOWN OF LOS GATOS PAGE 1
ACCOUNTING PERIOD: 6/02 REVENUE TRANSACTION ANALYSIS
SELECTION CRITERIA: transact.yr='01' and transact.fund='960'
FUND - 960 - RDA-LOW/MODERATE HOUSING
PROGRAM - 9601 - ADMINISTRATION COSTS (14)
ACCOUNT DATE T/C RECEIVE REFERENCE PAYER/VENDOR BUDGET RECEIPTS RECEIVABLES DESCRIPTION
46010 INTEREST INCOME (5-14)
1 /01 06/30/00 12 49,000.00
3 /01 10/13/00 19 SEP022 16,330.00
6 /01 12/31/00 19 DEC#025 20,040.00
9 /01 03/31/01 19 MAR016 21,140.00
13/01 06/30/01 19 P13021 21,530.00
13/01 11/16/01 19 P13038 5,916.00
TOTAL INTEREST INCOME (5-14) 49,000.00 84,956.00
49501 TAX INCREMENT IN @ 20'B
1 /01 06/30/00 12 436,800.00
1 /01 07/20/00 24 CR#161718 - 9,836.76
1 /01 07/25/00 19 CR161718 -9,836.76
1 /01 07/28/00 19 CR162223 -3,050.63
1 /01 07/28/00 24 CR#162223 - 3,050.63
2 /01 08/21/00 24 CR#163962 - 1,817.28
3 /01 09/25/00 24 CR#166119 - 962.14
4 /01 10/19/00 24 CR#167569 - 3,444.27
5 /01 11/04/00 19 CR#11002 31,989.60
5 /01 11/04/00 19 CR#11001 34,655.40
5 /01 11/28/00 24 CR#169611 - 13,169.12
6 /01 12/19/00 19 CR#12001 160,231.23
6 /01 12/31/00 19 CR#12005 24,709.61
7 /01 01/04/01 19 CR#12004 56,719.06
7 /01 01/30/01 24 CR#175504 - 11,711.81
7 /01 01/31/01 19 CR#01007 12,167.64
8 /01 02/27/01 24 - 7,812.44
9 /01 03/22/01 24 0100017857- 10,560.30
9 /01 03/30/01 19 CR#03001 47,401.40
10/01 04/20/01 24 0100018015- 8,831.47
10/01 04/30/01 19 CR#04009 28,354.75
10/01 04/30/01 19 CR#04008 134,243.45
10/01 04/30/01 19 CR#04007 16,776.90
11/01 05/22/01 24 CR#181787 7,724.17
12/01 06/19/01 19 CR#06005 13,471.12
13/01 06/30/01 19 R#185452 7,381.87
13/01 06/30/01 19 CR#06005 68,863.06
13/01 06/30/01 19 R#185202 11,224.80
TOTAL TAX INCREMENT IN 0 20% 436,800.00 714,222.89
TOTAL ADMINISTRATION COSTS (14) 485,800.00 799,178.89
TOTAL RDA-LOW/MODERATE HOUSING 485,800.00 799,178.89
TOTAL REPORT 485,800.00 799,178.89
POSTED FROM BUDGET SYSTEM
INTEREST FUND TRANSFER
QTRLY INT TO FUNDS
BUS SERVICE FEE QTR 2
4TH QTR INTEREST TO FUND
ADJ INVESTMENTS TO FMV
.00
POSTED FROM BUDGET SYSTEM
.00 JUNE 2000
RDA 5E813 JUN00 REIMBMNT
SB813 TTR - JUNE 2000
.00 SB813 TTR JUNE 2000
.00 SB813 JULY 2000
.00 SB813 AUGUST 2000
.00 SB813 AUG 2000
SEC PROP TAX 1ST ADVANCE
SEC PROP TAX 2ND ADVANCE
.00 SB813 OCTOBER 2000
SCC PROP TAX 3RD ADV
WIRE FOR NOVEMBER 2000
SCC 12/10/00 4RD ADVANCE
.00 SB813
12/10/00 SEC FINAL - WIRE
.00 CASH RECEIPTS INTERFACE
.00 RDASB813 FEBRUARY 2001
4/10/01 FIRST ADVANCE
.00 SB813
4/10/01 4TH ADVANCE
4/10/01 THIRD ADVANCE
4/10/01 SECOND ADVANCE
.00 5E813 APRIL 2001
SB813 MAY 2001
RDA SB813 JUI4E 2001
4/10/01 SECURED FINAL
SB 813 JUNE 2001
.00
.00
.00
.00
RUN ➢ATE 12/13/01 TIME 16:01:16 PEI - GOVERNMENTAL RESOURCE SERIES - FUND ACCOUNTANT
12/13/01 TOWN OF LOS GATOS PAGE 1
ACCOUNTING PERIOD: 6/02
EXPENDITURE TRANSACTION ANALYSIS
SELECTION CRITERIA: transact.yr='01' and t_ansact.fund='960' and transact.account in('61425','61440','61500','72119')
FUND - 960 - RDA-LOW/MODERATE HOUSING
PROGRAM - 9601 - ADMINISTRATION COSTS (14)
ACCOUNT DATE T/C PURCHAS
61425 TOWN LG 0/H @1St OF REV
1 /01 06/30/00 11
1 /01 07/20/00 24
1 /01 07/25/00 19
1 /01 07/28/00 24
1 /01 07/28/00 19
2 /01 08/21/00 24
3 /01 09/25/00 24
4 /01 10/19/00 24
5 /01 11/04/00 19
5 /01 11/04/00 19
5 /01 11/28/00 24
6 /01 12/19/00 19
6 /01 12/31/00 19
7 /01 01/04/01 19
7 /01 01/30/01 24
7 /01 01/31/01 19
8 /01 02/27/01 24
9 /01 03/22/01 24
9 /01 03/30/01 19
10/01 04/20/01 24
10/01 04/30/01 19
10/01 04/30/01 19
10/01 04/30/01 19
11/01 05/22/01 24
12/01 06/19/01 19
13/01 06/30/01 19
13/01 06/30/01 19
13/01 06/30/01 19
TOTAL TOWN LG 0/H @15% OF REV
REFERENCE VENDOR
CR161718
CR162223
CR#11001
CR#11002
CR#12001
CR#12005
CR#12004
CR#01007
CR#03001
CR#04008
CR#04007
CR#04009
CR#06005
R#185452
R#185202
CR#06005
61440 TLG CHARGE SRVCS-HOUSING
9 /01 03/20/01 11
9 /01 03/20/01 19
IV004136
TOTAL TLG CHARGE SRVCS-HOUSING
TOTAL ADMINISTRATION COSTS (14)
BUDGET
65,500.00
65,500.00
.00
.00
65,500.00
EXPENDITURES
1,475.51
-1,475.51
457.59
-457.59
272.59
144.32
516.64
5,198.31
4,798.44
1,975.37
24,034.68
3,706.44
8,507.86
1,756.77
1,825.15
1,171.87
1,584.05
7,110.21
1,324.72
20,136.52
2,516.54
4,253.21
1,158.62
2,020.67
1,107.28
1,683.72
10,329.46
107,133.44
5,133.99
5,133.99
112,267.43
ENCUMBRANCES DESCRIPTION
.00
.00
.00
POSTED FROM BUDGET SYSTEM
JUNE 2000
RDA SB813 JUN00 REIMBMNT
SB813 TTR JUNE 2000
SB813 TTR - JUNE 2000
SB813 JULY 2000
SB813 AUGUST 2000
SB813 AUG 2000
SEC PROP TAX 2ND ADVANCE
SEC PROP TAX 1ST ADVANCE
SB813 OCTOBER 2000
SCC PROP TAX 3RD ADV
WIRE FOR NOVEMBER 2000
SCC 12/10/00 4RD ADVANCE
SB813
12/10/00 SEC FINAL - WIRE
CASH RECEIPTS INTERFACE
RDASB813 FEBRUARY 2001
4/10/01 FIRST ADVANCE
SB813
4/10/01 THIRD ADVANCE
4/10/01 SECOND ADVANCE
4/10/01 4TH ADVANCE
SB813 APRIL 2001
SB813 MAY 2001
RDA SB813 JUNE 2001
SB 813 JUNE 2001
4/10/01 SECURED FINAL
SET-UP
CUST#3532 P/R JUL-MAR00-1
RUN DATE 12/13/01 TIME 15:58,52
PEI - GOVERNMENTAL RESOURCE SERIES - FUND ACCOUNTANT
12/13/01 TOWN OF LOS GATOS PAGE 2
ACCOUNTING PERIOD: 6/02
EXPENDITURE TRANSACTION ANALYSIS
SELECTION CRITERIA: transact.yr='01' and transact.fund='960' and transact.account in('61425','61440','61500','72119')
FUND - 960 - RDA-LOW/MODERATE HOUSING
PROGRAM - 9602 - PROFESSIONAL SERVICES(15)
ACCOUNT DATE
T/C PURCHAS REFERENCE VENDOR
61500 CONTRACT SERVICES
1 /01 07/12/00 11
1 /01 07/13/00 17 2001001
1 /01 07/14/00 18 2001001
1 /01 07/14/00 18 2001001
2 /01 08/11/00 17 2001041
5 /01 11/08/00 21
6 /01 12/29/00 21 2001001-02
7 /01 01/02/01 21
7 /01 01/02/01 21
10/01 04/03/01 21 2001001-02
10/01 04/19/01 21
10/01 04/19/01 21
10/01 04/19/01 21
10/01 04/19/01 21
10/01 04/24/01 21
12/01 06/12/01 21
13/01 08/14/01 21 2001001-02
13/01 09/27/01 21 2001041-01
TOTAL CONTRACT SERVICES
TOTAL
60070
60980
60917
60917
62258
62991
62991
62991
62991
62991
63325
30JUNO1
CANCEL PO
PROFESSIONAL SERVICES(15)
MAZ02-MAZE
MAZ02-MAZE
MAZ02-MAZE
BUDGET
& ASSOCIATES
& ASSOCIATES
& ASSOCIATES
APP02-APPRAISAL EXPRESS
MAZ02-MAZE & ASSOCIATES
MAZ02-MAZE & ASSOCIATES
WIL08-WILLDAN ASSOCIATE
WIL08-WILLDAN ASSOCIATE
MAZ02-MAZE & ASSOCIATES
SEI03-SEIFEL CONSULTING
SEI03-SEIFEL CONSULTING
SEI03-SEIFEL CONSULTING
SEI03-SEIFEL CONSULTING
SEI03-SEIFEL CONSULTING
SEI03-SEIFEL CONSULTING
MAZ02-MAZE & ASSOCIATES
APP02-APPRAISAL EXPRESS
.00
.00
.00
EXPENDITURES
3,435.00
107.00
11,040.00
8,832.00
315.00
594.00
4,201.00
105.00
100.00
2,937.60
561.99
.00
.00
32,228.59
32,228.59
ENCUMBRANCES DESCRIPTION
770.00
770.00
-770.00
350.00
.00
-107.00
.00
.00
-315.00
.00
.00
.00
.00
.00
.00
- 348.00
- 350.00
.00
.00
SJR SET-UP
AUDIT SERVICES
00/01 AUDIT SERVICES
00/01 AUDIT SERVICES
APPRAISAL
FY99-00 RDA AUDIT
REDEVELOPMENT AGENCY
SUBCONSULTANT - PO
SUBCONSULTANT - PO
REDEVELOPMENT AGENCY
LGF-489 3.3 HRS PRINCIPAL
30.01 HRS SR ECONOMIST
SUPPORT STAFF
1 HR ECONOMIST
PER FEB 2001 TO MARCH 01
CONSULTANT NONPROFIT
REDEVELOPMENT AGENCY
APPRAISAL
RUN DATE 12/13/01 TIME 15:58:53
PEI - GOVERNMENTAL RESOURCE SERIES - FUND ACCOUNTANT
12/13/01 TOWN OF LOS GATOS PAGE 3
ACCOUNTING PERIOD: 6/02 EXPENDITURE TRANSACTION ANALYSIS
SELECTION CRITERIA: transact.yr='01' and transact.fund='960' and transact.account in('61425','61440','61500','72119')
FUND - 960 - RDA-LOW/MODERATE HOUSING
PROGRAM - 9604 - REHABILITATION GRANTS(28)
ACCOUNT DATE
T/C PURCHAS REFERENCE VENDOR
BUDGET EXPENDITURES ENCUMBRANCES DESCRIPTION
72119 COMMUNITY HOUSING TRUST
12/01 06/29/01 11 250,000.00 SET-UP
13/01 07/02/01 21 63664 HOU05-HOUSING TRUST OF 250,000.00 .00 SCC TRUST ENDOWMENT FY01
TOTAL COMMUNITY HOUSING TRUST 250,000.00 250,000.00 .00
TOTAL REHABILITATION GRANTS(28) 250,000.00 250,000.00 .00
TOTAL RDA-LOW/MODERATE HOUSING 315,500.00 394,496.02 .00
TOTAL REPORT 315,500.00 394,496.02 .00
RUN ➢ATE 12/13/01 TIME 15:58:53 PEI - GOVERNMENTAL RESOURCE SERIES - FUND ACCOUNTANT
SCHEDULE HCD-DI
GENERAL PROJECT/PROGRAM INFORMATION
A separate Schedule HCD-D1 and all applicable Schedules HCD D2-D7 must be completed for each Housing Project.
Agency: Los Gatos Redevelopment AgQn.cy
Redevelopment Project/Program Area Name, or "Outside":
Housing Project/Program Name: Miles Avenue
Project/Program Address:
Street:
31 Miles Avenue
Cam:
Central
Los
Gatos
Los Gatos
Owner Name: Community Rousing Developers Inc.
Total Project/Program Units: # 12
Total Project/Program Bedrooms: # 12
Restricted Units:
12
Restricted Bedrooms: # 12
Redevelopment
ZIP:
95032
Proj ect
Unrestricted Units: #
Unrestricted Bedrooms: #
For projects with no Agency assistance, do not complete any more of HCD-D1 or any of HCD D2-D6. Only complete HCD-D7.
Was this a federally assisted multi -family rental project [Gov't Code Section 65863.10(a)(2)]? ❑ YES]gg NO
Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end #_0_
Number of bedrooms occupied by ineligible persons (e.g. ineligible income/# of residents in unit) at FY #
—0—
#-0—
end
Number of units restricted for special needs: (Number must not exceed "Total Project Units')
Number of units restricted that are serving one or more Special Needs: # ® Check, if data not available
(Note: A unit may serve more than one of the "Special Needs" listed below, therefore the sum of all "Special Needs" can
exceed the "Number of Units Restricted for Special Needs")
# DISABLED (Mental)
# DISABLED (Physical)
FARMWORKER (Migrant)
FARMWORKER (Permanent)
FEMALE HEAD OF HOUSHOLD
# LARGE FAMILY
(4 or more Bedrooms)
TRANSITIONAL HOUSING.
# ELDERLY
# EMERGENCY SHELTERS
(allowable use only with "Other Housing
Units Provided - Without LMIHF" Sch-D6)
riction Dates (enter appropriate dates):
Replacement
Housing Units
Inclusionary Housing Units
Other Housing Units Provided
Inside Project Area
Outside Project Area
With LMIHF
Without LMIHF
Inception
2001
Termination
2056
Funding Sources:
Redevelopment Funds: $ R05,000
Federal Funds $
State Funds: $
Other Local Funds: $
Private Funds: $
Owner's Equity: $
TCAC/Federal Award: $
TCAC/State Award: $
Total Development/Purchase Cost: $ N/A
Check all appropriate form(s) listed below that will be used to identify this
❑ Replacement Housing Units Inclusionary Units:
(Sch HCD-D2) ® Inside Project Area (Sch HCD-D3)
❑ Outside Project Area (Sch HCD-D4)
Project's/Program's Units or Bedrooms:
Other Housing Units Provided:
❑ With LMIHF (Sch HCD-D5)
❑ Without LMIHF (Sch HCD-D6)
❑ Without any Agency Assistance
(Sch HCD-D7)
California Redevelopment Agencies - Fiscal Year 2000-2001 HCD-D1
SchD1 (7/1/01)
SCHEDULE HCD-D3
INCLUSIONARY HOUSING UNITS (INSIDE PROJECT AREA)
(units with required affordability restrictions that agency controls)
Agency: Los Gatos Redevelopment Agency
Redevelopment Project Area Name: Central Los Gatos Redevelopment Project
Affordable Housing Project Name: 31 Miles Avenue — Los Gatos Creek Village
Check only one. if both apply, complete a separate form for each (with another Sch-D1):
❑ Agency Developed ® Non -Agency Developed
Check only one. if both apply, complete a separate form for each (with another Sch-DI):
® Rental ❑ Owner -Occupied
Enter the number of units for each applicable activity below:
A. New Construction Units:
Elderly Units
Non Elderly Units
TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
12
12
Of Total, identify the number aggregated from other project areas (see HCD-A(s), Item 8):
—0—
B. Substantial Rehabilitation (Post -AB 1290 Definition of Value >25%: Credit for Obligations Since 1994):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
Of Total, identify the number aggregated from other project areas (see HCD-A(s), Item 8):
C. Substantial/Other Rehabilitation (Pre -AB 1290 Definition: Credit for Obligations Between 1976 and 1994):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
D. Acquisition of Covenants (Post -AB 1290 Reform: Only Multi -Family and Some Other Restrictions):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
TOTAL UNITS (Add only TOTAL of all "TOTAL Elderly / Non Elderly Units"):
12
If TOTAL UNITS is less than "Total Project Units" on HCD Schedule DI, report the remaining units as instructed below.
Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
❑ Replacement Housing Units ❑ Inclusionary Units (Outside Project Area) Other Housing Units Provided:
(Sch HCD-D2) (Sch HCD-D4) ❑ With LMIHF (Sch HCD-D5)
❑ Without LMIHF (Sch HCD-D6)
❑ Without anv Agency Assistance
(Sch HCD-D7)
Identify the number of Inclusionary Units which also have been counted as Replacement Units:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
VLOW LOW MOD TOTAL INELG.
California Redevelopment Agencies - Fiscal Year 2000-2001
Sch D3 (7/1/01)
HCD-D3
SCHEDULE HCD-E
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION
BASED ON SPECIFIED HOUSING ACTIVITY DURING THE REPORTING YEAR
Agency: Los Gatos Redevelopment Agency
Name of Project or Area (if applicable, list "Outside" or "Summary":
Central Los Gatos
Complete this form to report activity separately by project or area or to summarize activity for the year.
Report all new construction and/or substantial rehabilitation units from Forms D2 through D7 that were:
(a) developed by the agency and/or (b) developed only in a project area by a nonagency person or entity.
PART I [H&SC Section 33413(b)(1)]
AGENCY DEVELOPED UNITS DURING THE REPORTING YEAR
BOTH INSIDE AND OUTSIDE OF A PROJECT AREA
1. New Units Developed by the Agency
-0-
2. Substantially Rehabilitated Units Developed by the Agency
-0-
3. Subtotal - Baseline of Agency Developed Units (add lines 1 & 2)
-0-
4. Subtotal of Increased Inclusionary Obligation (Line 3 x 30%) (see Notes 1 and 2 below)
-0-
5. Very -Low Inclusionary Obligation Increase Units (Line 4 x 50%)-
PART II [H&SC Section 33413(b)(2)]
NONAGENCY DEVELOPED UNITS DURING THE REPORTING YEAR •
ONLY INSIDE A PROJECT AREA
6. New Units Developed by Any Nonagency Person or Entity
12
7. Substantially Rehabilitated Units Developed by Any Nonagency Person or Entity
8. Subtotal - Baseline of Nonagency Developed Units (add lines 6 & 7)
12
9. Subtotal of Increased Inclusionary Obligation (Line 8 x 15%) (see Notes 1 and 2 below)
1.8
10. Very -Low Inclusionary Obligation Increase (Line 9 x 40%)
.72
PART III REPORTING YEAR TOTALS
11. Total Increase in Inclusionary Obligation (add lines 4 and 9)
1.8
12. Very -Low Inclusionary Obligation Increase (add lines 5 and 10) (Line 12 is a subset of Line
.72
I
11)
***********tt********************* it* *t***ii*►***********t*********i***i***i******* tit i***i******t***t*******t******tt*********i
NOTES:
1. Section 33413(b)(1), (2), and (4) require agencies to ensure that applicable percentages (30% or 15%) of
all (market -rate and affordable) "new and substantially rehabilitated dwelling units" are made available
at affordable housing cost within 10 year planning periods. Market -rate units: units not assisted with
low -mod funds and jurisdiction does not control affordability restrictions. Affordable units: omits
generally restricted for the longest feasible time beyond the redevelopment plan's land use controls and
jurisdiction controls affordability restrictions. Agency developed units: market -rate units can not exceed
70 percent and affordable units must be at least 30 percent; however, all units assisted with low -mod
funds must be affordable. Nonagencv developed (project area) units: market -rate units can not exceed'
85 percent and affordable units must be at least 15 percent.
2. Production requirements may be met on a project -by -project basis or in aggregate within each 10 year
planning period. The percentage of affordable units relative to total units required within each 10 year
planning period may be calculated as follows:
AFFORDABLE units = Market -rate x (.30 or .15) TOTAL units = Market -rate or Affordable
(.70or.85) (.70or.85) (.30or.15)
California Redevelopment Agencies - Fiscal Year 2000-2001
Sch E-1 (7/1/01)
HCD-E
Redevelopment Agency Of The Town Of Los Gatos
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General Information
Exhibit C
Redevelopment Agency Of The Town Of Los Gatos
Redevelopment Agencies Financial Transactions Report
Achievement Information (Unaudite
Fiscal Year
Indicate Only Those Achievements Completed During the Fiscal Year of this Report as a Direct Result
of the Activities of the Redevelopment Agency.
Square Footage Completed
Rehabilitated
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Redevelopment Agency Of The Town Of Los Gatos
Redevelopment Agencies . Financial Transactions Report
Audit Information
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Audit Information
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Project Area Report
Los Gatos Project Area
Project Area Name
CD
N
Fiscal Year
Forwarded from Prior Year ?
Enter Code for Type of Project Area Report
A = Administrative Fund
P = Standard Project Area Report
L = Low and Moderate Income Housing Fund
0 = Other Miscellaneous Funds or Programs
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Date Project Area was Established
Most Recent Date Project Area was Amended
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0
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0
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Effectiveness of Plan
O
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New Indebtedness
3
Size of Project Area in Acres
0
Percentage of Land Vacant at the Inception of the Project Area
Health and Safety Code Section 33320.1
0
Percentage of Land Developed at the Inception of the Project Area
Health and Safety Code Section 33320.1 (xx.x%)
0-
Public 0 = Other
R = Residential
Most Recent Date Project Area was Merged
Single familty affoi
Project Area Report
Redevelopment Agencies Financial Transactions Report
Assessed Valuation Data
0
0
N
Fiscal Year
Los Gatos Project Area
Project Area Name
Frozen Base Assessed Valuation
Increment Assessed Valuation
0)
CO
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Total Assessed Valuation
r
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0
N
Assessed Valuation Data
Redevelopment Agency Of The Town Of Los Gatos
Redevelopment Agencies Financial Transactions Report
Pass -Through / School District Assistance
Co
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Fiscal Year
Other Payments
a • co
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School Districts
Community College District
Special Districts
Net Amount to Agency
Pass -Through / School District Assistance
Redevelopment Agency Of The Town Of Los Gatos
Redevelopment Agencies Financial Transactions Report
Summary of the Statement of Indebtedness - Project Area
0
N
Fiscal Year
Los Gatos Project Area
Project Area Name
Tax Allocation Bond Debt
Revenue Bonds
Other Long Term Debt
City/County Debt
Low and Moderate Income Housing Fund
N.
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Net Tax Increment Requirements
Summary of the Statement of Indebtedness - Project Area
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Project Area Name
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Forward from Prior Year
Certificates Of Participation
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Principal Amount Authorized
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Purpose of Issue
Maturity Date Beginning Year
Maturity Date Ending Year
Principal Amount Unmatured Beginning of Fiscal Year
Adjustment Made During Year
Adjustment Explanation
Interest Added to Principal
Principal Amount Issued During Fiscal Year
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Principal Amount Matured During Fiscal Year
Principal Amount Defeased During Fiscal Year
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Principal Amount Unmatured End of Fiscal Year
Principal Amount In Default
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Tax Increment Gross
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0 0 0 0 M 69 69 1 fA 1 fflCD
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Property Assessments
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Statement of Income and Expenditures - Revenues
Redevelopment Agency Of The Town Of Los Gatos
Redevelopment Agencies Financial Transactions Report
Statement of Income and Expenditures - Expenditures
O
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Fiscal Year
Los Gatos Project Area
Project Area Name
N N
N N
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Administration Costs
Professional Services
Planning, Survey, and Design
Real Estate Purchases
Acquisition Expense
Operation of Acquired Property
Relocation Costs
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Statement of Income and Expenditures - Expenditures
Redevelopment Agency Of The Town Of Los Gatos
Redevelopment Agencies Financial Transactions Report
Statement of Income and Expenditures - Expenditures
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Fiscal Year
Project Area Name
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All Other Long -Term Debt
Total Expenditures
Statement of Income and Expenditures - Expenditures
Statement of Income and Expenditures - Other Financing Sources
O
0
N
Fiscal Year
Los Gatos Project Area
Project Area Name
o io
Proceeds of Long -Term Debt
Proceeds of Refunding Bonds
Payment to Refunded Bond Escrow Agent
Advances from City/County
Sale of Fixed Assets
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Miscellaneous Financing Sources (Uses)
N
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Operating Transfers In
Tax Increment Transfers In
0
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Statement of Income and Expenditures - Other Financing Sources
Redevelopment Agency Of The Town Of Los Gatos
Redevelopment Agencies Financial Transactions Report
Statement of Income and Expenditures - Other Financing Sources
Fiscal Year
Project Area Name
0
O
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12/14/2001
Statement of Income and Expenditures - Other Financing Sources
Redevelopment Agencies Financial Transactions Report
Balance Sheet - Assets and Other Debits
0
Fiscal Year
Assets and Other Debits
N 0
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Loans Receivable
6 J6 '16, 16,
Contracts Receivable
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0
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Balance Sheet - Assets and Other Debits
Redevelopment Agency Of The Town Of Los Gatos
Redevelopment Agencies Financial Transactions Report
Balance Sheet - Assets and Other Debits
H
O
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Fiscal Year
Investments
Other Assets
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12/14/2001
Balance Sheet - Assets and Other Debits
Transactions Report
Balance Sheet - Liabilities and Other Credits
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Balance Sheet - Liabilities and Other Credits
Redevelopment Agency Of The Town Of Los Gatos
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Balance Sheet - Liabilities and Other Credits
Redevelopment Agency Of The Town Of Los Gatos
Redevelopment Agencies Financial Transactions Report
Statement of Income and Expenditures - Summary, Combined Transfers In/Out
0
0
N
Fiscal Year
O
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tri
t0
Operating Transfers In
Tax Increment Transfers In
Operating Transfers Out
Tax Increment Transfers Out
12/14/2001
1
LOS GATOS REDEVELOPMENT AGENCY
Principal/Interest
Due During Tax
Year
$ 9,220,931
$ 9,220,931 1
M
CO
co
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$ 174,701,780
Total
Outstanding
Debt
$ 178,037,157 1
178,037,157
~4
BALANCES CARRIED FORWARD FROM:
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include all
indebtedness into post June 30 of the Fiscal Year, pursuant to Health and Safety Code Section 33675 (C)(2), this is
optional for each agency and is not a requirement for filing the Statement of Indebtedness. The Reconciliation Statement
STEPHEN D. CONWAY
Consolidate on this formall of the data contained on Form A and B (including supplemental pages). Form A is to
Available Revenues (From Calculation of Available Revenues -Line 7)
Name
6.
7
Fiscal Period -Totals (From Form A, Page 1 Totals)
I(Optional) Post Fiscal Period -Totals (From Form B Totals)
Grand Totals 1 1
Pursuant to Section 33675 (b) of the Health and Safety Code,
II hereby certify that the above is a true and accurate Statement _J
of indebtedness for the above named agency. 1
is to indude indebtedness from Form A only.
Certification of Chief Financial Officer
Net Requirement
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STATEMENTS OF INDEBTEDNESS -FISCAL YEAR INDEBTEDNESS ONLY
FILED FOR THE 2001-02 TAX YEAR
TOWN OF LOS GAITS REDEVELOPMENT AGENCY
CENTRAL PROJECT AREA
For Indebtedness Entered Into post June 30, 2001
Orginal Data
FORM B
(Optional)
Current
Debt Identification
Principal /
Total Interest Due
Interest Total Outstanding During Tax
Date Principal Term Rate Interest Debt Year
Totals, Fiscal Year Indebtedness
Purpose of Indebtedness:
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35,335,722
22,484,526
5,223,528
36,676,754
104,592,255
73,444,903
178,037,158
RECON DATES: From July 1, 2000 to June 30, 2001
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AMOUNTS PAID AGAINST
ADJUST ADJUST INDEBTEDNESS FROM
INCREASE DECREASE
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Pg 1 Line E Pg 1 Line E West Valley/Misson CCD 38,500 45,129 38,500
Pg 1 Line F Pg 1 Line F Santa Clara County 33,941 89,609 33,941
Pg 1 Line G Pg 1 Line G County Office of Education 2,378,907 625,932
Pg 1 Line H Pg 1 Line H Mid-Pensula Open Space 1,174,858 144,145
Pg 1 Line I Pg 1 Line I Los Gatos -Saratoga High School District_ 28,641,510 6,694,212
Pg 1 Line J Pg 1 Line J Los Gatos Elementary School District 18,827,843 3,656,683
Pg 2 Line A Pg 1 Line K West Valley/Misson CCD 5,061,617 161,911
Pg 2 Line B Pg 1 Line L Santa Clara County 17,707,154 18,969,600 _
TOTAL -THIS PAGE 74,240,495 30,800,366 - 409,518 39,088
TOTALS FORWARD 125,893,931 3,260,003 55,173,105 535,926 -
GRAND TOTALS I 200,134,426 34,060,369 55,173,105 945,444 39,088
NOTE: This form i t reconcile the previous Statement of Indebtedness to the current one being filed. However, since the reconciliation period is
limited by law to a July 1- June 30 fiscal year period, only those items included on the SOI Form A is to be included on this document. To assist
in following each item of indebtedness from one SOI to the next, use page and line number references from each SOI that the item of
indebtedness is listed on. If indebtedness is new to the fiscal year, enter "new" in the "Prior Yr" page and line columns. Column F must
equal the current SOI, Form A Total Outstanding_Debt Column. I 1 1 I
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121,325
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RECON DATES: From July 1, 2000 to June 30, 2001
TAX YEAR 2001-02
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TOTALS THIS PAGE
CALCULATION OF AVAILABLE REVENUES
TOWN OF LOS GATOS REDEVELOPMENT AGENCY
CENTRAL PROJECT AREA
TAX YEAR 2001-02
RECONCILIATION DATES: July 1, 2000 to June 30 , 2001
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
$ 376,129
3,232,042
3. All Other Available Revenues Received 672,650
4. Revenues from any other source, included
in column E of the Reconciliation
Statement, but not included in (1-3) above
39,088
5. Sum of lines 1 through 4 4,319,909
6. Total amounts paid against indebtedness
in previous year. (D + E on Reconciliation Statement) 984,532
7. Available Revenues, End of Year (5-6)
FORWARD THIS AMOUNT TO STATEMENT OF INDEBTEDNESS,
COVER PAGE, LINE 4
NOTES
3,335,377
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".
RESOLUTION 2001 -11RD
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS
APPROVING THE 2000-01 ANNUAL REPORT
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.
3. The audit issued by Maze and Associates, 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 and the Annual Report of Financial Transactions,
attached hereto as Exhibits B and C, consist of forms provided by the State Department of
Housing and Community Development.
5. Approval of the 2000-01 Annual Report for the Los Gatos Redevelopment Agency
does not constitute a project for purposes of the California Environmental Quality Act
("CEQA").
RESOLVED, that the Redevelopment Agency hereby approves and adopts the 2000-01
Annual Report for the Los Gatos Redevelopment Agency, attached hereto as Exhibits A, B and
C.
FURTHER RESOLVED, that the Redevelopment Agency determines the planning and
administrative expenses from the Low and Moderate Income Housing Fund are necessary for the
production, improvement, or preservation of low- and moderate- income housing.
PASSED AND ADOPTED at a regular meeting of the Town Council/Redevelopment
Agency of the Town of Los Gatos, California, held on thel7th day of December, 2001 by the
following vote:
REDEVELOPMENT AGENCY MEMBERS:
AYES: Steven Blanton, Sandy Decker, Steve Glickman, Joe Pirzynski,
Mayor Randy Attaway
NAYS:
ABSENT:
ABSTAIN:
ATTEST:
None
None
None
SIGNED:/s/ Randy Attaway
CHAIR OF REDEVELOPMENT AGENCY
TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
/s/ Marian V. Cosgrove
SECRETARY OF THE REDEVELOPMENT AGENCY
TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
RESOLUTION 2001 - 142
RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS
APPROVING THE 2000-01 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.
3. The audit issued by Maze and Associates, 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 and the Annual Report of Financial Transactions,
attached hereto as Exhibits B and C, consist of forms provided by the State Department of
Housing and Community Development.
5. Approval of the 2000-01 Annual 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 hereby approves and adopts the 2000-01 Annual
Report for the Los Gatos Redevelopment Agency, attached hereto as Exhibits A, B and C.
FURTHER RESOLVED, that the Town Council determines the planning and
administrative expenses from the Low and Moderate Income Housing Fund are 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 thel7th day of December, 2001 by the following vote:
COUNCIL MEMBERS:
AYES: Steven Blanton, Sandy Decker, Steve Glickman, Joe Pirzynski,
Mayor Randy Attaway.
NAYS: None
ABSENT: None
ABSTAIN: None
SIGNED: /s/ Randy Attaway
MAYOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
ATTEST:
/s/ Marian V. Cosgrove
CLERK OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
Town Council Minutes
Redevelopment Agency
BURTON RD 16185/ZONE CHANGE/ORDINANCE 2093 (12.15)
Motion by Mr. Glickman, seconded by Mrs. Decker, that Council adopt Ordinance 2093 entitled,
ORDINANCE OF THE TOWN OF LOS GATOS AMENDING THE ZONING MAP FROM
R-1:8 TO CH FOR PROPERTY LOCATED AT 16185 BURTON ROAD, which was introduced
at the Council meeting of December 3, 2001. Carried unanimously.
December 17, 2001
Los Gatos, California
REDEVELOPMENT AGENCY/ANNUAL REPORT/RESOLUTIONS 2001-142 & 2001-11RD (13.27)
Motion by Mr. Glickman, seconded by Mrs. Decker, that the Council adopt Resolution
2001-142 entitled, RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS
GATOS APPROVING THE 2000-2001 ANNUAL REPORT FOR THE LOS GATOS
REDEVELOPMENT AGENCY. Carried unanimously.
Motion by Mr. Glickman, seconded by Mrs. Decker, that the Agency adopt Resolution
2001-11 RD entitled, RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
TOWN OF LOS GATOS APPROVING THE 2000-2001 ANNUAL REPORT. Carried
unanimously.
VERBAL COMMUNICATIONS (00.28)
Comments on Town Government:
Ray Davis, resident, spoke of offering $500 to a charity if anyone could prove that he had compared
a council member to Osama bin Laden at a Council meeting. He continued saying that he did make
a comment directed toward Mr. Pirzynski stating that Osama struck from without and the Council
member struck from within. He believes this does not qualify as calling the Council member an
offensive name but he would donate $50 toward public toilets in the Town Plaza. He asked Mr.
Blanton for an affidavit of residence once again. (Mayor Attaway thanked Mr Davis for admitting
his error and accepted his donation toward the Town's Public Library.)
Merchant Support of Town Letter:
Sallie Robbins -Duran, 32 East Main Street, thanked the Town for its letter of support for the Los
Gatos business community. During these difficult financial times the businesses were appreciative
of the Town's community letter encouraging shopping in Los Gatos.
HEARINGS
DOWNTOWN PARKING MANAGEMENT PLAN/RESOLUTION 2001-145 (16.34)
Mayor Attaway announced that this was the time and place so noted for public hearing to consider
adopting resolution implementing the Town of Los Gatos Downtown Parking management Plan
which establishes specified time limits, a residential permit program, an employee permit system, sets
permit fees and fines for parking violations, and approves personnel and budget adjustments.
Larry Todd, Los Gatos Police Chief, spoke of the community consensus regarding the different
aspects of the parking program. He spoke of residential and employee preferential parking permits.
He noted that Council's approval was the final action needed to move forward on the aspects of the
plan that Council has already reviewed and acted on. Other streets have been added and included as
60% of the residents in the new districts requested to be added to this program. He pointed out the
specific areas that the preferential and specific timed parking will be allowed. There are many areas
in Town to accommodate parking in a variety of ways. Street parking needs some 30 minute parking
spaces for quick turn over and purchases.
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