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City of San Leandro <br />Meeting Date: May 7, 2012 <br />Staff Report <br />File Number: 12 -212 Agenda Section: CONSENT CALENDAR <br />Agenda Number: 8.F. <br />TO: City Council <br />FROM: Chris Zapata <br />City Manager <br />BY: Luke Sims <br />Community Development Director <br />FINANCE REVIEW: Not Applicable <br />TITLE: Staff Report for Resolution of the City Council of the City of San Leandro <br />Authorizing the Execution of an Amended and Restated Cooperation <br />Agreement with the Successor Agency to the Redevelopment Agency of the <br />City of San Leandro Regarding the Construction and Funding of Eden Road <br />Improvements and Hays Street Improvements <br />SUMMARY AND RECOMMENDATIONS <br />Staff recommends that the City Council, Serving as Successor Agency to the former <br />Redevelopment Agency, approve the Resolution Re- Entering into a Cooperative Agreement <br />with the City, thereby re- affirming a 2011 Agency funding commitment of $3.5 million for <br />improvements to Eden Road and Hays Street. <br />le[•]:Cr] CzollJ 0I �7 <br />On January 17, 2011, the Redevelopment Agency and City of San Leandro (Agency) <br />executed a Cooperative Agreement whereby the Agency pledged $8,967,754. At the time of <br />the Agency's dissolution on February 1, 2012, the full balance of this obligation was still owed <br />and that amount was added to the Agency's Enforceable Obligation Payment Schedule <br />(EOPS) and Recognized Obligation Payment Schedule (ROPS). <br />After the approval of the ROPS by the City Council (serving as Successor Agency) on April 2, <br />2012 and the Successor Agency Oversight Board on April 6, 2012, the California Department <br />of Finance (DOF) exercised its right to conduct a review of the list of Enforceable Obligations. <br />Upon completion of that review, the DOF informed the City that it did not consider some items <br />to be enforceable because, with very limited exceptions, Assembly Bill x1 26 does not <br />recognize agreements between a redevelopment agency and the city that created it. This <br />determination impacts the aforementioned Cooperative Agreement and a loan from the City to <br />the Joint Project Area. <br />Analysis <br />City of San Leandro Page 1 Printed on 51112012 <br />