PEEBLER, SCOTT AS SUCCESSOR IN INTEREST TO GERALD PEEBLER - 2014

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E. Petitioner filed a Petition for Writ of Mandate and Verified Complaint for Declaratory and Injunctive Relief in Sacramento County Superior Court on June 7, 2012 in Case No. 34- 2012- 80001172 (the "Action "), naming the State of California Department of Finance ( "DOF "); Ana J. Matosantos, in her official capacity as Director of the State of California Department of Finance, Jan Grimes, in her official capacity as the Auditor - Controller of the County of Orange; and the City of Santa Ana as Successor Agency for the former Redevelopment Agency of the City of Santa Ana. The Action challenged DOF's determination that the Stipulated Judgment was not a recognized enforceable obligation that could be listed on the ROPS. F. On February 20, 2013, Judge Timothy M. Frawley issued a Ruling determining that the Stipulated Judgment was not an enforceable obligation and Petitioner timely filed an appeal (the "Appeal "). G. Pursuant to AB 1484, the legislation enacted to clarify, revise and add to certain provisions of ABX1 26, the Successor Agency caused to be prepared two due diligence reviews: (i) the Low and Moderate Income Housing Fund Due Diligence Review ( "LMIHF DDR ") and (ii) the Other Funds and Accounts Due Diligence Review (the "OFA DDR "). The purpose of the DDRs was to determine the amount of unencumbered money available for distribution to the taxing entities that receive property taxes within the former redevelopment project areas. H. On May 13, 2014, DOF issued a letter determining, based on its review of the LMIHF DDR, that the Successor Agency had $32,000,945 in unencumbered funds available for distribution to the taxing entities. On May 8, 2013, DOF issued a letter, based on its review of the OFA DDR that the Successor Agency had $21,760,018 in unencumbered funds that was available for distribution to taxing entities. I. On April 29, 2013, the Successor Agency, as well as City of Santa Ana and the Housing Authority of the City of Santa Ana filed a Petition for Writ of Mandate and Complaint for Injunctive and Declaratory Relief in Sacramento Superior Court on April 29, 2013 in Case No. 34- 2013 - 80001477 (the "Related Action ") naming DOF, the state Board of Equalization and the Auditor - Controller as respondents and defendants and certain Real Parties in Interest, including Petitioner, and subsequently filed a First Amended Petition for Writ of Mandate and Complaint for Injunctive and Declaratory Relief on May 30, 2013 and a Second Amended Petition for Writ of Mandate and Complaint for Injunctive and Declaratory Relief on February 28, 2014. The Action challenged nurnerous determinations made by DOF, including those made with respect to the LMIHF DDR and OFA DDR. J. On August 19, 2014, Judge Shelleyanne W.L. Chang issued a Ruling On Submitted Matter on the Related Action denying Petitioners' Petition for Writ of Mandate and Complaint for Injunctive and Declaratory Relief ( "Ruling "). Petitioners in the Related Action determined not to file an appeal, and the judgment in the Related Action is final. K. In the interim, of the amounts determined by DOT to be available for distribution to the taxing entities under the LMIHF DDR and OFA DDR, $25,458,054 has either been remitted by the Successor Agency to the Auditor- Controller or represents a reduction in the allocation of RPTTF allocated to the Successor Agency, pursuant to Health and Safety Code section 34179.6(h)(2), so that $28,302,909 remains in the Successor Agency's possession. Thus, the total -2- 55394.00005 \9313511.9