Title
Staff Report for Resolution of the Governing Board of the Successor Agency to the Redevelopment Agency of the City of San Leandro Approving a Recognized Obligation Payment Schedule for January through June 2013 for Enforceable Obligations of the Former Redevelopment Agency Pursuant to Health and Safety Code Section 34177
Staffreport
RECOMMENDATIONS
Staff recommends that the governing board of the Successor Agency to the Redevelopment Agency of the City of San Leandro adopt a Resolution approving a Recognized Obligation Payment Schedule for the period from January 1, 2013 through June 30, 2013.
BACKGROUND
Pursuant to AB x1 26, on January 9, 2012, the City Council affirmed its decision to have the City serve as the Successor Agency to the former Redevelopment Agency (Agency). Assembly Bill 1484, passed by the State Legislature on June 27, 2012, modified ABx1 26 to clarify that successor agencies are separate legal entities from the city that formed the redevelopment agency. Under AB x1 26, the Successor Agency, is obligated to prepare a Recognized Obligation Payment Schedule ("ROPS") every six months that lists all enforceable obligations payable during the next six month period. Assembly Bill 1484 changed the deadline for submitting the next ROPS (for the period January through July, 2013) to the Department of Finance (DOF) to September 1, 2012. Approval of the ROPS by the Oversight Board is also required prior to submission to the DOF. The Successor Agency can only pay obligations that are listed on the ROPS.
Analysis
A primary responsibility of the Successor Agency is to oversee the payment of Enforceable Obligations. Enforceable Obligations are defined as:
· Bonds including debt service reserve set asides and any other required payments;
· Loans borrowed by the Agency;
· Payments required by the federal or state governments;
· Pension and unemployment payments for Agency employees;
· Judgments, settlements or binding arbitration decisions; and
·...
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