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ROPS 18-19 & Administrative Budget <br />February 20, 2018 <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 $254,742 in administrative cost allowance for <br />FY 18/19. <br />Funds will be budgeted for FY 18/19 in the Redevelopment Obligation Retirement Funds (account <br />no. 67118021 -various, 67018843 -various, and 67018850 -various) upon approval of the ROPS by <br />DOF. <br />Robert M. Zur c ied <br />Interim Executive Director <br />Community Development Agency <br />RZS/SG <br />AS TO FUNDS AND ACCOUNTS: <br />Francisco Gutierrez 00 <br />executive Director <br />Finance and Management Services Agency <br />Exhibit: 1. ROPS & Administrative Budget FY 2018-2019 <br />3-2 <br />