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ROPS 17 -18 & Administrative Budget <br />February 7, 2017 <br />Page 2 <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #4 - City Financial Stability, <br />Objective #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 ROPS for each <br />annual period. Administrative expenses are capped at three percent of the actual property tax <br />distributed for the ROPS in the preceding fiscal year or the minimum of $250,000 per year. The <br />Successor Agency is anticipated to be approved for $564,672 in administrative cost allowance for <br />FY 17/18. <br />Funds will be budgeted for FY 17118 in the Redevelopment Obligation Retirement Funds <br />(account no. 67118021 - various, 67018843 - various, and 67018850 - various) upon approval of the <br />ROPS by DOF. <br />Robert C. Co.-tdz� <br />Deputy City Manager <br />City Manager's Office <br />RC /SG /sb <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Francisco utierrez Do <br />Executive Director <br />Finance and Management Services Agency <br />Exhibit: 1. ROPS & Administrative Budget FY 2017 -2018 <br />3 -2 <br />