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REQUEST r ACTION SUCCESSOR AGENCY MEETING DATE: FEBRUARY 2, 2016 TITLE: RECOGNIZED OBLIGATION PAYMENT SCHEDULE AND ADMINISTRATIVE BUDGET FOR THE PERIOD OF JULY 1, 2016 THROUGH JUNE 30, 2017 (STRATEGIC PLAN NO. 4, 1) CITY MANAGER RECOMMENDED ACTION CLERK OF THE COUNCIL USE ONLY: APPROVED ❑ As Recommended 0 As Amended ❑ Implementing Resolution F-1 Other CONTINUED TO FILE NUMBER Receive and file the Recognized Obligation Payment Schedule and Administrative Budget for the period of July 1, 2016 through June 30, 2017 pursuant to Part 1.85 of Division 24 of the California Health & Safety Code. DISCUSSION Pursuant to Part 1.85 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 Association v. Matosantos, Case No. S194861, 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, AB 471, and SIB 107, 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 (ROPS). Senate Bill (SB) 107, signed into law on September 22, 2015, amended various sections of the Health and Safety Code including the sections that govern the redevelopment dissolution process. Some of the new changes to the ROPS process includes: • ROPS period changed from six - months to one fiscal year period (July — June); • Annual ROPS due by February 1St of each year; 3 -1