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ROPS 20-21 <br />January 21, 2020 <br />Page 2 <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #4 - City Financial Stability, Objective <br />#1 (maintain a stable, efficient and transparent financial environment). <br />FISCAL IMPACT <br />The Successor Agency is limited to making only payments listed on the approved ROPS for each <br />annual period. Administrative expenses are capped at three percent of the actual property tax <br />distributed for the ROPS in the preceding fiscal year or the minimum of $250,000 per year. The <br />Successor Agency is anticipated to be approved for $250,000 in administrative cost allowance for <br />FY 20/21. <br />Funds will be budgeted for FY 20/21 in the Redevelopment Obligation Retirement Funds (account <br />no. 67118021-various, 67018843-various, and 67018850-various) upon approval of the ROPS by <br />DOF. <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Steven A. Mendoza Kathryn Downs, CPA <br />Executive Director Executive Director <br />Community Development Agency Finance and Management Services Agency <br />SM/SG <br />Exhibit: 1. Resolution <br />A. Recognized Obligation Payment Schedule 20-21 <br />SA4-2 <br />