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REPORT TO SUCCESSOR AGENCY
To:Honorable Chair and Members of the Agency
From:Grant Yates, Executive Director
Prepared By: Barbara Leibold, Successor Agency Counsel
Date:September 27, 2016
Subject:Amended Recognized Obligation Payment Schedule (ROPS 16–17B) for
the January 1, 2017 through June 30, 2017 Period
Recommendation
Adopt A RESOLUTION OF THE SUCCESSOR AGENCY OF THE REDEVELOPMENT
AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING THE AMENDED
RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 16-17B) FOR THE JANUARY
1, 2017 THROUGH JUNE 30, 2017 PERIOD
Background
As part of the dissolution of the former Redevelopment Agency, Health and Safety Code
Section 34177 (added by AB 1X 26 and amended by AB 1484) requires the Successor
Agency to adopt a Recognized Obligation Payment Schedule (ROPS) that lists all obligations
of the former redevelopment agency that are enforceable within the meaning of subdivision
(d) of Section 34171 for each fiscal year. The Successor Agency has previously adopted
ROPS 16-17 for the current fiscal year. ROPS 16-17 was approved by the Oversight Board
to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore and the
State Department of Finance (DOF). SB 107, enacted in September 2016, provides for a
one-time amendment to ROPS 16-17 for the January through June 30, 2017 period.
Discussion
SB 107 requires that the amendment to the ROPS for January 2017 through June 2017 be
submitted to DOF and the State Controller’s office, after approval by the Oversight Board, no
later than October 1, 2016 (October 3 in 2016 since October 1 is a Saturday). The DOF has
five (5) days after submittal to request a review and forty-five (45) days to review the ROPS if
it decides to do so. If the ROPS is not submitted by the deadline, the City is subject to a
$10,000 fine for every day the ROPS is late and the administrative cost allowance for the
Successor Agency is reduced by 25% after 10 days.
The attached Amended ROPS 16-17B for the period January 1, 2017 – June 30, 2017
follows the form prescribed by the DOF and incorporates all of the remaining obligations
identified in the previous ROPS.
Approval of Amended ROPS 16-17B
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Fiscal Impact
Adoption of the Amended ROPS 16-17B for the period January 1, 2017 – June 30, 2017
continues the process set forth in ABx1 26 to insure that the Successor Agency will be
allocated adequate property tax revenues to make required debt service and other
enforceable obligation payments in addition to recouping its administrative costs. As such,
there is no financial impact on the City’s general fund.
Prepared By:Barbara Leibold, Successor Agency Counsel
Approved By:Grant Yates, Executive Director
Attachments:
Successor Agency Resolution No. SA-2016-___
Amended Recognized Obligation Payment Schedule of the Successor Agency of the
Redevelopment Agency of the City of Lake Elsinore for the period of January 1, 2017
through June 30, 2017 (ROPS 16-17B)