REQUEST FOR SUCCESSOR AGENCY TO THE
REDEVELOPMENT AGENCY ACTION
DATE: 12/06/2023
TO: Honorable Mayor and City Council Members (RDA Successor Agency Capacity)
FROM: Finance Department
SUBJECT:
Title
RESOLUTION APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE AND RESOLUTION APPROVING SUCCESSOR AGENCY ADMINISTRATIVE BUDGET FOR THE PERIOD OF JULY 2024 THROUGH JUNE 2025.
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EXECUTIVE SUMMARY:
Pursuant to Health and Safety Code Section 34177(o)(1), the Successor Agency shall prepare an annual Recognized Obligation Payment Schedule ("ROPS") listing the nature, amount, and source(s) of payment of all outstanding "enforceable obligations" of the dissolved Agency (as defined by law) to be paid or performed by the Successor Agency. Pursuant to Health and Safety Code section 34177 (j), the Successor Agency is also required to prepare a proposed Administrative Budget. The Successor Agency's annual ROPS and Administrative Budget have been prepared for the period of July 2024 through June 2025. There are no new enforceable obligations included in the ROPS for Fiscal Year 2024-2025 that were not included in the previously adopted ROPS.
RECOMMENDED ACTION:
Recommended action
That the Successor Agency to the Redevelopment Agency of the City of Corona:
a. Adopt Resolution No. 2023-001, approving and adopting a Recognized Obligation Payment Schedule for the period of July 2024 through June 2025 pursuant to Health and Safety Code Section 34177(o)(1).
b. Adopt Resolution No. 2023-002, approving and adopting a Successor Agency Administrative Budget for the period of July 2024 through June 2025 pursuant to Health and Safety Code Section 34177(j).
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BACKGROUND & HISTORY:
Per Assembly Bill 1x 26, the Redevelopment Agency was dissolved effective February 1, 2012. Assembly Bill 1x 26 and subsequent legislation, Assembly Bill 1484, set forth procedures and requirements for the dissolution and wind down of redevelopment agencies within the State of California. T...
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