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REQUEST FOR ,. SUCCESSOR�_a w ACTION MEETING DATE: OCTOBER 6, 2015 RECOGNIZED OBLIGATION SCHEDULE t: AND ADMINISTRATIVE BUDGET e PERIOD OF JANUARY 1, 2016THROUGH i 2016 (STRATEGIC PLAN • CITY k,# RECOMMENDED ACTION CLERK OF THE COUNCIL USE ONLY: APPROVED ❑ As Recommended ❑ As Amended ❑ Implementing Resolution ❑ Other CONTINUED TO FILE NUMBER Receive and file the Recognized Obligation Payment Schedule 15-16B and Administrative Budget for the period of January 1, 2016 through June 30, 2016 pursuant to Part 1.85 of Division 24 of the California Health & Safety Code. DISCUSSION Pursuant to Part 1.65 of Division 24 of the California Health & Safety Code ("Dissolution Act"), the City Council on January 9, 2012, elected for the City to act as the "Successor Agency" to the dissolved Community Redevelopment Agency ("Agency"). On February 1, 2012, in accordance with the Dissolution Act and the California Supreme Court's decision in California Redevelopment Assoclatlon v. Matosantos, Case No. 5194861, the Agency was dissolved and the City began to serve as the "Successor Agency." The City Council serves as the governing body of the Successor Agency under the Dissolution Act as amended by AB 1484, to administer the enforceable obligations of the Agency and otherwise unwind the Agency's affairs. The Oversight Board to the Successor Agency has oversight with respect to the Dissolution process, including review and approval of the Recognized Obligation Payment Schedule (ROPE). This is the ninth ROPE prepared by the Successor Agency, and Is presented in the format designed by the Department of Finance (DOF). The ROPS 15-16B was reviewed and approved by the Oversight Board in a special meeting on September 29, 2015. Following action by the Oversight Board, the ROPS was submitted to the DOF, County, and other appropriate entities as required by AB 1484 by the October 5, 2015 deadline. 2-1