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ROPE 14 -15B & <br />ADMINSTRATIVE BUDGET <br />October 7, 2014 <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 BOPS for each <br />six month period and the administrative expenditures of the Successor Agency are limited to <br />items listed in the approved Administrative Budget for each six month period. Administrative <br />expenses are capped by law at the greater of three percent of the property tax funds distributed <br />for the ROPS, or $250,000 per year. Thus far, Santa Ana's Successor Agency has received the <br />greater amount of three percent based on the approved property tax funds. <br />Kelly R a ers <br />Executive Director <br />Community Development Agency <br />KR/SG <br />Exhibits: 1. BOPS & Administrative Budget <br />Francisco Gutierrez c <br />Executive Director <br />Finance and Management Services Agency <br />2-2 <br />