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REQUEST FOR ?? <br />SUCCESSOR AGENCY - ,i <br />ACTION - <br />MEETING DATE: <br />APRIL 2, 2012 <br />TITLE: <br />SUCCESSOR AGENCY APPROVAL OF <br />AMENDED RECOGNIZED OBLIGATION <br />PAYMENT SCHEDULE CROPS) AND <br />SECOND AMENDED ENFORCEABLE <br />OBLIGATION PAYMENT SCHEDULE <br />(FOPS) <br />CLERK OF THE COUNCIL USE ONLY: <br />APPROVED <br />(] As Recommended <br />? As Amended <br />? Implementing Resolution <br />0 Other <br />-?,? CITY MANAGER <br />RECOMMENDED ACTION <br />CONTINUED TO <br />FILE NUMBER <br />It is recommended that the City Council acting as the Successor Agency to the former Agency: <br />Adopt a Resolution approving the Amended Recognized Obligation Payment Schedule <br />("BOPS") and certain other actions pursuant to Part 1 .85 of the Dissolution Act. <br />2. Adopt a Resolution approving a Second Amended Enforceable Obligation Payment <br />Schedule ("Second Amended FOPS") and certain other actions pursuant to Part 1 .85 of the <br />Dissolution Act. <br />3. Approve the City Manager and/or Director of Finance, or their designees, as delegated <br />officials of the City acting as Successor Agency, as authorized to make any augumentation, <br />modification, additions, or revisions as may be necessary to the ROPS or FOPS based on <br />review by the State Department of Finance (DOF), or the County of Orange's selected <br />independent auditor in the case of the BOPS. <br />DISCUSSION <br />The California Supreme Court's decision in Ca/ifornia Redeye/opment Association, et a/., v. <br />Matosantos ("Matosantos") upheld Assembly Bill X1 26, the "Dissolution Act." AB X1 26 added <br />Parts 1.8 and 1.85 to Division 24 of the California Health & Safety Code, which caused the <br />dissolution and winding down of all California redevelopment agencies. By resolution, the City <br />Council on January 9, 2012, elected for the City to act as the "Successor Agency" to the <br />community's dissolved redevelopment agency ("Agency") and the Housing Authority of the City of <br />Santa Ana as "Successor Housing Agency." On February 1 , 2012, the Agency was dissolved <br />and the City began service as the "Successor Agency." The City is performing its functions as <br />4-1