PREPARED BY: NORM VELOSO DATE OF MEETING: 1/16/2024
SUBJECT:
TITLE
CONSIDER ADOPTING A RESOLUTION OF THE LOCAL SUCCESSOR AGENCY OF THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF SAN PABLO APPROVING AN ADMINISTRATIVE BUDGET AND ADOPTING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR FISCAL YEAR 2024-25 ("ROPS 24-25")
CEQA: This proposed action is not a project as defined by CEQA.
Label
CITY MANAGER RECOMMENDATION
Recommendation
Adopt Resolution
BODY
COMPLIANCE STATEMENTS
Focus on Economic Development and Fiscal Diversification is a stated major policy goal, and Create a Sustainable Economic Ecosystem, Employ Integrated Efforts to Reduce Blight and Continue Fiscal Resilience, Fiscal Excellence and Fiscal Transparency are adopted policy items under the FY 2023-25 City Council Priority Workplan, effective May 1, 2023, and most recently amended December 13, 2023.
CEQA Compliance Statement
This proposed action is not a project as defined by CEQA.
BACKGROUND
The San Pablo Local Successor Agency ("LSA") is responsible for winding down the activities of the former Redevelopment Agency of the City of San Pablo (the "former Redevelopment Agency") pursuant to the requirements of Part 1.85 of Division 24 of the California Health and Safety Code (Health and Safety Code Section 34170 et seq.; the "Dissolution Act").
Section 34177(o) of the Dissolution Act requires the LSA to adopt an annual ROPS each fiscal year, which is then presented to the Countywide Oversight Board. The ROPS functions as the LSA's claim for tax increment funds and general authorization to pay enforceable obligations. The ROPS lists the outstanding obligations of the former Redevelopment Agency and the funding source for each obligation. The LSA is only authorized to pay obligations listed on the ROPS and will only be allocated tax increment funds by the County Auditor-Controller for those listed obligations. Obligations that will be funded by other sources, such as existing fund bal...
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