Laserfiche WebLink
City of San Leandro <br />City Council <br />Meeting Date: January 2, 2024 <br />Agenda Number: 5.a. <br />Agenda Section: CONSENT CALENDAR <br />File Number: 23-613 <br />File Type: Staff Report <br />Adopt a Resolution to Authorize the Successor Agency to the Redevelopment Agency of the City of <br />San Leandro to Adopt a Recognized Obligations Payment Schedule (ROPS) and Administrative <br />Budget for the Period July 1, 2024 - June 30, 2025, Pursuant to Health and Safety Code §34177(I) <br />COUNCIL PRIORITY <br />·Housing and Homelessness <br />·Infrastructure <br />·Community & Business Development <br />SUMMARY AND RECOMMENDATIONS <br />Staff recommends that the City Council, acting as governing board of the Successor Agency <br />to the Redevelopment Agency of the City of San Leandro, adopt a Resolution approving a <br />Recognized Obligations Payment Schedule and Administrative Budget for the period from <br />July 1, 2024 through June 30, 2025. <br />BACKGROUND <br />Pursuant to Assembly Bill x1 26, on January 9, 2012, the San Leandro City Council affirmed <br />its decision to have the City serve as the Successor Agency to the former Redevelopment <br />Agency of the City of San Leandro (Successor Agency). Under Senate Bill 107, introduced <br />and passed by the State Legislature on September 11, 2015, the Successor Agency is <br />obligated to prepare a Recognized Obligations Payment Schedule (ROPS) every fiscal year <br />that lists all enforceable obligations payable during that twelve-month period. The Successor <br />Agency can only pay obligations that are listed on the ROPS and approved by the California <br />Department of Finance (DOF). <br />Approval of the ROPS by the Successor Agency Oversight Board is also required prior to <br />submission to the DOF. Under Health and Safety Code section 34179(j), a single Countywide <br />Oversight Board (Oversight Board) commenced on July 1, 2018. If approved by the Successor <br />Agency, the San Leandro ROPS will be brought before the Alameda Countywide Oversight <br />Board at its January 18, 2024 meeting. Approvals from both the Successor Agency and <br />Oversight Board are required in order to submit the ROPS to the DOF by February 1, 2024. <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 other required payments; <br />·Loans borrowed by the Agency; <br />Page 1 City of San Leandro Printed on 12/21/2023