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xN City of San Leandro <br />Meeting Date: January 23, 2012 <br />Staff Report <br />File Number: 12 -028 Agenda Section: BUSINESS ITEMS <br />Agenda Number: 2.A. <br />TO: Redevelopment Agency <br />FROM: Lianne Marshall <br />Interim City Manager /Executive Director <br />BY: Luke Sims <br />Community Development Director <br />FINANCE REVIEW: Not Applicable <br />TITLE: Staff Report for Resolution of the Redevelopment Agency of the City of <br />San Leandro Amending an Enforceable Obligation Payment Schedule <br />Pursuant to Health And Safety Code Section 34169 <br />RECOMMENDATIONS <br />Staff recommends that the Redevelopment Agency approve a resolution amending the <br />Enforceable Obligation Payment Schedule pursuant to Section 34169 of the State of <br />California Health and Safety Code. <br />�G[s] :Cr] Yell] 0I 17 <br />With the passage of Assembly Bill x1 26 on June 29, 2011, the California State <br />Legislature added several sections to the California Community Redevelopment Law, <br />Health and Safety Code Section 33000 et seq. ( "CRL "). That bill mandated the <br />dissolution of all Redevelopment Agencies in California as of October 1, 2011 <br />(subsequently revised to February 1, 2012 by the California Supreme Court), and also <br />outlined several requirements for Agencies during the period between the effective date <br />and the date of dissolution (the "suspension period "). <br />One of the added components of the CRL is Section 34169 which governs Agency <br />activities during the suspension period. The provisions of Section 34169 are generally <br />intended to ensure that Agency assets are preserved prior to the termination of the <br />Agency, thus maximizing potential revenue for the State. The most immediate <br />requirement is the mandate to adopt an Enforceable Obligation Payment Schedule <br />(EOPS) within 60 days of the effective date, or prior to August 30. Enforceable <br />Obligations are defined as: <br />• Bonds, including debt service, reserve set - asides and any other required <br />payments; <br />• Loans borrowed by the agency; <br />• Payments required by the federal or state government; <br />City of San Leandro Page 1 Printed on 112012012 <br />