Received Jun 1 4 2012 Successor Agency*

Lompoc: over the past 11 years spent $24 million; received $18.6 million in Tax Increment; has $43.8 million in outstanding long-term debt and obligations. Successor Agency Response: The Successor Agency partially disagrees with the finding. While the estimated amounts stated in this finding are reasonably close to the actual figures, we include the following specific data gathered from our records. For the tax increment and expenditures, the audited financial statements are the source records. For the outstanding long-term debt and obligations, the Preliminary Enforceable Obligations Payment Schedule, the approved Recognized Obligations Payment Schedule and the June 30, 2010 audited financial statements are the source records. Expenditures (July 1, 1999 to June 30, 2010): $23,987,206 Revenues received (July 1, 1999 to June 30, 2010): 18,610,060 Outstanding debt (per June 30, 2010 audited financial statements): 16,066,619 Preliminary Enforceable Obligations Payment Schedule: 40,098,966 Approved Required Obligations Payment Schedule (to June 30): 27,783,169 The Oversight Board for the Successor Agency to the (dissolved) former Lompoc Redevelopment Agency approved the Successor Agency's Recognized Obligation Payment Schedule (ROPS) for the periods of January 1, 2012 to June 30, 2012, and July 1, 2012 to December 31, 2012, on May 21, 2012. The California State Department of Finance approved both ROPS on May 25, 2012. June 1, 2012 Grand Jury Report: Requiem for Redevelopment

Detailed data are not available on the amount of money spent on individual projects, the recipients of this money, or how these projects have contributed to eliminating blight. Successor Agency Response: The Successor Agency partially disagrees with the finding. Detailed data regarding Redevelopment funding on past individual projects, including housing and non-housing projects, and the recipients of the money expended, is available in the former RDA's Annual Financial Reports. The information accompanies the Redevelopment Agency's Annual Reports, which are posted on the City website. The Annual Reports are located on the City Council Agenda page for the second meeting of each December, when the Agency Board/City Council approves the report to be submitted to the state. The Successor Agency will post these past Annual Reports to the Successor Agency's website by June 30, 2012, so that they are more easily accessible.