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City of San Leandro <br />Meeting Date: July 16, 2012 <br />Resolution - SA <br />File Number: 12 -374 Agenda Section: ACTION ITEMS <br />Agenda Number: <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: ADOPT: Resolution of the Successor Agency to the Redevelopment Agency <br />of the City of San Leandro Adopting a Draft Recognized Obligation Payment <br />Schedule (ROPS) for the Period January 1 - June 30, 2013, Pursuant to <br />Health and Safety Code Section 34177(L) (approves the payment schedule <br />detailing the obligations of the Successor Agency and the City as it relates to <br />the Low and Moderate Housing Fund) <br />WHEREAS, pursuant to Resolution No. 2012 -001, adopted by the City Council of the <br />City of San Leandro on January 9, 2012, the City of San Leandro ( "City ") agreed to serve as <br />the successor agency to the Redevelopment Agency of the City of San Leandro (the <br />"Agency ") commencing upon the dissolution of the Agency on February 1, 2012; <br />WHEREAS, pursuant to Health and Safety Code Section 34177(1), before each <br />six -month fiscal period, the Successor Agency to a dissolved Redevelopment Agency is <br />required to adopt a draft Recognized Obligation Payment Schedule ( "ROPS ") that lists all of <br />the obligations that are "enforceable obligations" within the meaning of Health and Safety <br />Code Section 34177, and which identifies a source of payment for each such obligation from <br />among (i) the Low and Moderate Income Housing Fund, (ii) bond proceeds, (iii) reserve <br />balances, (iv) the administrative cost allowance, (v) revenues from rents, concessions, interest <br />earnings, and asset sales, and (vi) the Redevelopment Property Tax Trust Fund established <br />by the County Auditor - Controller to the extent no other source of funding is available or <br />payment from property tax is contractually or statutorily required; <br />WHEREAS, the draft ROPS must be concurrently submitted to the County <br />Administrative Officer, the County Auditor - Controller, the State Department of Finance, and <br />the Oversight Board established to review Successor Agency actions; and <br />WHEREAS, once the ROPS is approved by the Oversight Board, the ROPS must be <br />posted on the Successor Agency's website and transmitted to the County Auditor - Controller, <br />the State Controller and the State Department of Finance. <br />City of San Leandro Page 1 Printed on 711012012 <br />