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City of San Leandro <br />Meeting Date: September 21, 2015 <br />Staff Report <br />Agenda Section:File Number:15-509 CONSENT CALENDAR <br />Agenda Number:8.D. <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:Cynthia Battenberg <br />Community Development Director <br />FINANCE REVIEW:David Baum <br />Finance Director <br />TITLE:Staff Report for a Resolution of the Successor Agency to the Redevelopment <br />Agency of the City of San Leandro Adopting a Recognized Obligation <br />Payment Schedule (ROPS) for the Period January 1 - June 30, 2016, <br />Pursuant to Health and Safety Code Section 34177(l) <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 January 1 through June 30, 2016 (ROPS 15-16B). <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 enforceable <br />obligations payable during the next six-month period. Approval of the ROPS by the <br />Successor Agency Oversight Board is also required prior to submission to the California <br />Department of Finance (DOF). The Successor Agency can only pay obligations that are listed <br />on the ROPS 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 9/15/2015