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RESOLUTION N0.2014-001 OB <br />RESOLUTION OF THE OVERSIGHT BOARD <br />FOR THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY <br />OF THE CITY OF SAN LEANDRO <br />APPROVING THE RECOGNIZED OBLIGATION PAYMENT <br />SCHEDULE (ROPS) FOR THE PERIOD JULY 1- DECEMBER 319 2014 <br />WHEREAS, pursuant. to Resolution No. 2012-001, adopted by the City Council of the City of <br />San Leandro on January 9, 2012, the City of San Leandro ("City") agreed to serve as the Successor <br />Agency to the Redevelopment Agency of the City of San Leandro (the "Successor Agency") commencing <br />upon the dissolution of the Agency on February 1, 2012; <br />WHEREAS, pursuant to Health and Safety Code Section 34177(1), before each six-month fiscal <br />period, the Successor Agency to a dissolved Redevelopment Agency is required to adopt a Recognized <br />Obligation Payment Schedule ("ROPS") that lists all of the obligations that are "enforceable obligations" <br />within the meaning of Health and Safety Code Section 34177, and which identifies a source of payment <br />for each such obligation from among (i) the Low and Moderate Income Housing Fund, (ii) bond proceeds, <br />(iii) reserve 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 by the County <br />Auditor -Controller to the extent no other source of funding is available or payment from property tax is <br />contractually or statutorily required; <br />WHEREAS, on February 17, 2014, the Successor Agency to the Redevelopment Agency of the <br />City of San Leandro approved the BOPS for the period July 1 — December 31, 2014; <br />WHEREAS, the ROPS must be concurrently submitt <br />ed to the County Administrative Officer, <br />the County Auditor -Controller, the State Department of Finance, and the Oversight Board established to <br />review Successor Agency actions; and <br />WHEREAS, once the ROPS is approved by the Oversight Board, the BOPS must be posted on <br />the Successor Agency's website and transmitted to the County Auditor -Controller, the State Controller <br />and the State Department of Finance. <br />NOW. THEREFORE, the Oversight Board of the Successor Agency to the Redevelopment <br />Agency of the City of San Leandro hereby resolves as follows: <br />1. The Recognized Obligation Payment Schedule (ROPS) <br />for July 1 —December 31, 2014 <br />attached hereto as Exhibit A is hereby approved. <br />2. The Executive Director or designee of the Successor Agency is authorized and directed to <br />take all actions necessary to implement this Resolution, including without limitation, the <br />submittal of the ROPS to the County Administrative Officer, the County Auditor -Controller, the <br />