Title
Recommendation to Authorize the City Manager to Submit the Recognized Obligations Payment Schedule (ROPS) and Administrative Budget for the Period from July 1, 2020 to June 30, 2021 to the Countywide Oversight Board. (Community Development 207)
Body
To: Honorable Chair and Member of the Successor Agency to the Community Improvement Commission
EXECUTIVE SUMMARY
Staff recommends authorizing the City Manager to submit the Recognized Obligations Payment Schedule (ROPS 2020-21) and Administrative Budget for the Period from July 1, 2020 to June 30, 2021, to the Countywide Oversight Board. Once the State Department of Finance approves the ROPS, the Successor Agency can pay its financial obligations for Fiscal Year 2020-2021.
BACKGROUND
State Law enacted by Assembly Bill x1 26 (2011), as modified by Assembly Bill 1484 (2012), and Senate Bill 107 (2015), dissolved all redevelopment agencies in California and established successor agencies to administer remaining obligations of the former redevelopment agencies. The City of Alameda (City) serves as the Successor Agency to the Community Improvement Commission of the City, Alameda's former redevelopment agency and the City Council serves as the Successor Agency Board.
Local oversight boards were established to direct the work of winding down the affairs and obligations of each former redevelopment agency. As of July 1, 2018, local oversight boards within Alameda County are now consolidated into the single County of Alameda Countywide Oversight Board (Countywide Oversight Board).
The Successor Agency is obligated to prepare a Recognized Obligations Payment Schedule (ROPS) for each fiscal year listing all enforceable obligations payable during that twelve-month period. The ROPS must be approved by the Countywide Oversight Board prior to submission to the California Department of Finance (DOF). The deadline for submission to DOF is February 1 of each year. The Successor Agency can only pay obligations listed ...
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