DATE:
January 28, 2025
SR01
TO:
Board of Directors
SUBJECT
Title
APPROVE THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR JULY 1, 2025 - JUNE 30, 2026, AND ADMINISTRATIVE BUDGET, AND ESTABLISH APPROPRIATIONS BASED ON AN OPERATING TRANSFER FROM THE RESERVE ACCOUNT TO THE DEBT SERVICE FUND (DISTRICTS: ALL)
Body
OVERVIEW
On January 24, 2012 (14), the County of San Diego (County) was designated as the Successor Agency to the Redevelopment Agency of the County of San Diego (Successor Agency) to oversee the wind-down of the former redevelopment agency's operations following the steps established by California Assembly Bill (AB) X1 26 and AB 1484, collectively known as the Dissolution Act. These steps include preserving assets, fulfilling legally binding commitments, overseeing the termination of activities, and returning resources expeditiously to the affected taxing entities.
The Recognized Obligation Payment Schedule (ROPS) is the report that authorizes the amount of former redevelopment agency property tax increment to be allocated to the Successor Agency for payment of enforceable obligations. The Successor Agency is required to submit the ROPS and the administrative budget annually to the Countywide Redevelopment Successor Agency Oversight Board.
Today's actions request approval of the ROPS for July 1, 2025 - June 30, 2026 (ROPS 25-26) and the related administrative budget for the same period. Total enforceable obligations of $2,471,941 are eligible to be funded, including an administrative budget of $20,000. Both items were presented and approved by the Countywide Redevelopment Successor Agency Oversight Board on January 16, 2025. Additionally, today's actions also request approval to establish $120,000 of appropriations based on an operating transfer from the reserve account to the debt service fund to meet the reserve account requirement.
This item supports the County vision of a just, sustainable, and resilient future for all, specifically those ...
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