HomeMy WebLinkAboutCity Council Item No SA2• 1 I 3 N Corsi O W 0 y
AND MEMBERS OF THE CITY COUNCIL
FROM: BARBARA LEIBOLD
SUCCESSORAGENCYCOUNSEL
SUBJECT: ADOPTION BY THE SUCCESSOR AGENCY OF TH�
REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE 0
DRAFT RECOGNIZED; OBLIGATION PAYMENT SCHEDULE (ROP 'I
FOR JULY 2012 - DECEMBER 2012
.► . • s •
By Resolution No. 2012 -001 adopted on January 10, 2012, the City Council elected to
become the Successor Agency of the Redevelopment Agency of the City of Lake
Elsinore upon the Agency's dissolution on February 1, 2012 pursuant to Assembly Bill
x1 20.
Health and Safety Code Section 34122 requires that the Successor Agency adopt a
Recognized Obligation Payment Schedule (BOPS) that lists all obligations of the former
redevelopment agency that are enforceable within the meaning of subdivision (d) of
Section 34107 for each six month period of each fiscal year. The RODS must be
submitted to and approved by the Oversight Board for each six month period.
Dinnunnion
The Successor A adopted its initial ROPS on Februar 28, 2012, and adopted the
First Amended ROPS on April 10, 2012. The Oversi Board approved the Initial
ROPS and the First Amended ROPS at its first meetin on April 10, 2012. The
Depa othe governmental age a a pr oc e ss
r a Amended R • •
ABx1 20 also requires that a RODS for the period July 2012 through December 2012 be
adopted by the Successor Agency prior to July 1, 2012. In March 2012, the Department
AGENDA ITEM NO. SA 2
Page 1
ADOPTION OF ROPS FOR JULY 2012 THROUGH DECEMBER 2012
Ma 8, 2012
Pa 2
of Finance re that the Jul 2012 throu December 2012 ROPS be adopted an
submitted to the Department of Finance and the • Count • Ma 11, • 2012 so that th
Count has appropriate time to calculate the pa of propert taxes due in June. I
A ROPS for the period Jul 2012 throu December 2012 has been prepared and
circulated to the Successor A with the A materials and is available for
review in the Cit Clerk's office. Upon adoption, the ROPS will be submitted to the
Department • Finance, Count of Riverside and State Auditor-Controller's Office. It will
also be posted on the Cit website.
Fiscal Impact
Adoption of the ROPS for Jul 2012 throu December 2012 continues the process set
forth in ABx1 26 to insure that the Successor A will be allocated ade
propert tax revenues to make re debt service and other obli pa in
addition to recoupin its administrative costs
Recommendation
1. Adopt the Reco Obli Pa Schedule ( ROPS ) for Jul 2012
throu December 2012 and authorize the Interim Cit Mana or his desi
to take all necessar actions with respect thereto on behalf of the Successor
A
Prepared b James Rile
Director of Administrative Services
Barbara Leibold
Successor A Counsel
Approved b Tom Evans
Interim Cit Mal
Pa 2