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City of San Leandro <br />Meeting Date: February 19, 2013 <br />Staff Report <br />Agenda Section:File Number:13-049 CONSENT CALENDAR <br />Agenda Number:8.D. <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:Lianne Marshall <br />Assistant City Manager <br />FINANCE REVIEW:Not Applicable <br />TITLE:Staff Report for Resolution of the Successor Agency to the Redevelopment <br />Agency of the City of San Leandro Approving a Recognized Obligation <br />Payment Schedule for July through December 2013 for Enforceable <br />Obligations of the Former Redevelopment Agency Pursuant to Health and <br />Safety Code Section 34177 <br />RECOMMENDATIONS <br />Staff recommends that the governing board of the Successor Agency to the Redevelopment <br />Agency of the City of San Leandro adopt a Resolution approving a Recognized Obligation <br />Payment Schedule for the period from July 1, 2013 through December 31, 2013. <br />BACKGROUND <br />Pursuant to Assembly Bill x1 26, on January 9, 2012, the City Council affirmed its decision to <br />have the City serve as the Successor Agency to the former Redevelopment Agency (Agency). <br />Assembly Bill 1484, passed by the State Legislature on June 27, 2012, modified AB x1 26 to <br />clarify that successor agencies are separate legal entities from the city that formed the <br />redevelopment agency. Under AB x1 26, the Successor Agency , is obligated to prepare a <br />Recognized Obligation Payment Schedule ("ROPS") every six months that lists all <br />enforceable obligations payable during the next six month period. Approval of the ROPS by <br />the Oversight Board is also required prior to submission to the California Department of <br />Finance (DOF). The Successor Agency can only pay obligations that are listed on the ROPS <br />and approved by the DOF. <br />Analysis <br />A primary responsibility of the Successor Agency is to oversee the payment of Enforceable <br />Obligations. Enforceable Obligations are defined as: <br />·Bonds including debt service reserve set asides and any other required payments; <br />Page 1 City of San Leandro Printed on 2/12/2013