MEETING DATE:
FEBRUARY 24, 2015
SUBJECT:
Title
RESOLUTION NO. SA 2015-013 - RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR PERIOD OF JULY 1 THROUGH DECEMBER 31, 2015 (ROPS 15.16A).
Body
Recommendation
Recommendation
ADOPT a resolution approving the Recognized Obligation Payment Schedule (ROPS 15.16A) for the required filing period of July 1 through December 31, 2015 as required by AB X1 26 and AB 1484.
Body
Board or Commission Action
Not applicable
Relevant Council Strategic Theme
Planning for the Future
Relevant Department Goal
Not applicable
Introduction
On December 29, 2011, the California Supreme Court issued its direction in the California Redevelopment Association v. Matosantos case. The Supreme Court found that ABX1 26, the Dissolution Act was constitutional. Consistent with AB X1 26, on January 10, 2012, the City Council adopted a resolution electing to become the Successor Agency to the former San Marcos Redevelopment Agency. In addition, the City Council elected to serve as the Successor Agency to retain the housing assets and functions to the extent allowed under ABX1 26. Under the Dissolution Act, the San Marcos Redevelopment Agency was dissolved on February 1, 2012.
In late June of 2012, the state legislature passed AB 1484, redevelopment dissolution clean up legislation which implemented new and accelerated deadlines among other provisions.
The established Oversight Board, which supervises the activities of the Successor Agency with respect to the dissolution of the former redevelopment agencies affairs, is scheduled to consider the ROPS after the approval of the Successor Agency. The ROPS approved by the Oversight Board will be forwarded to the Department of Finance, State Auditor Controller and the county auditor - controller.
Discussion
The preliminary ROPS projected payments for each enforceable obligation from July 1, 2015 through December 31, 2015. Under modified timelines established by AB...
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