For City Council Meeting and the City of Rialto, Acting as the Successor to the Redevelopment Agency Meeting [January 23, 2018]
TO: Honorable Mayor/Chair and City Council/Governing Board
FROM: Robb R. Steel, Interim City Administrator
Title
Request City Council, Acting as Successor Agency to the Redevelopment Agency for the City of Rialto, to Adopt Resolution No. SA1-18 Approving the Recognized Obligation Payment Schedule and to Adopt Resolution No. SA2-18 Approving the Administrative Budget for Fiscal Year 2018-19.
Body
BACKGROUND:
Pursuant to Section 34177 of the California Health and Safety Code, successor agencies must submit a Recognized Obligation Payment Schedule (ROPS) to make payments and receive administrative funds, as follows:
A. Prepare a draft Recognized Obligation Payment Schedule describing the enforceable obligations of the former redevelopment agency.
B. Submit the certified Recognized Obligation Payment Schedule to the Oversight Board for approval.
C. Submit the approved Recognized Obligation Payment Schedule to the County Auditor-Controller, the State Controller, and the Department of Finance. Post the Recognized Obligation Payment Schedule on the Successor Agency's website.
D. The Department of Finance to determine the amount and funding source for each enforceable obligation no later than 45 days after submittal of the Recognized Obligation Payment Schedule. If the Successor Agency does not submit its Recognized Obligation Payment Schedule by the deadline, it is subject to a civil penalty of $10,000 per day, and the maximum administrative cost allowance for that period shall be reduced by 25 percent.
ANALYSIS/DISCUSSION:
The proposed ROPS (known as ROPS 18-19A and 18-19B - collectively known as the "ROPS") and attached hereto as Exhibit A, and the Successor Agency budget, attached hereto as Exhibit B, describe the Successor Agency's spending program for the period from July 1, 2018 to June 30, 2019. On January 25, 2018, ...
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