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REQUEST FOR <br />SUCCESSOR AGENCY <br />ACTION <br />MEETING DATE: <br />MAY 7, 2012 <br />TITLE: <br />SUCCESSOR AGENCY APPROVAL OF <br />RECOGNIZED OBLIGATION PAYMENT <br />SCHEDULE (ROPS) AND ADMINISTRATIVE <br />BUDGET FOR THE PERIOD OF JULY 1, <br />2012 THROUGH DECEMBER 31, 2012 <br /> <br />CONTINUED TO <br />FILE NUMBER <br />CITY MANAGER <br />RECOMMENDED ACTION <br />It is recommended that the City Council acting as the Successor Agency to the former Agency: <br />Adopt a Resolution approving the Recognized Obligation Payment Schedule ("ROPS") and <br />Successor Agency Administrative Budget for the period of July 1, 2012 through December <br />31, 2012 and certain other actions pursuant to Part 1.85 of the Dissolution Act. <br />2. 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 augmentation, <br />modification, additions, or revisions as may be necessary to the ROPS or Administrative <br />Budget based on review by the State Department of Finance (DOF), or the County of <br />Orange's selected independent auditor, as applicable. <br />DISCUSSION <br />The California Supreme Court's decision in California Redevelopment Association, et al. 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 to serve as the "Successor Agency." The City is performing its functions as <br />the Successor Agency under the Dissolution Act to administer the enforceable obligations of the <br />Agency and otherwise unwind the Agency's affairs, most subject to the review and approval by a <br />seven-member Oversight Board. <br />CLERK OF THE COUNCIL USE ONLY: <br />APPROVED <br />? As Recommended <br />? As Amended <br />? Implementing Resolution <br />? Other <br />3-1