HomeMy WebLinkAboutStaff Report Item 4 01/28/2016Item # 4
Oversight Board to the Petaluma Community
Development Commission Successor Agency
DATE: January 28, 2016
TO: Members of the Oversight Board
FROM: Ingrid Alverde, Economic Development & Redevelopment Manager
SUBJECT: Resolution Adopting a July 1, 2016 — June 30, 2017 Recognized Obligation
Payment Schedule (ROPS 16-17) and Administrative Budget Pursuant to Health
and Safety Code Section 34177 (1)
RECOMMENDATION
It is recommended that the Oversight Board to the Petaluma Community Development
Successor Agency (Oversight Board of the PCDSA) approve the Resolution Adopting a July 1,
2016 through June 30, 2017 Recognized Obligation Payment Schedule (ROPS 16-17) and
Administrative Budget Pursuant to Health and Safety Code Section 34177 (1).
DISCUSSION
Until now the Successor Agency has been required to adopt a list of enforceable obligations
called a Recognized Obligation Payment Schedule (ROPS), together with an administrative
budget every six months. New legislation passed last summer changes the timeframe for the
ROPS from every six months to every year. The upcoming ROPS period is July 1, 2016 —June 30,
2017 and is referred to as the ROPS 16-17 because it covers obligations for fiscal year 16 -17.
The proposed ROPS for the July 1, 2016 through June 30, 2017 period is provided in Exhibit A of
Attachment 1. Health and Safety Code Section 34177(j) also requires the Oversight Board to
approve the Successor Agency's administrative budget. The proposed PCDSA administrative
budget for ROPS period is $250,000 and is shown on the ROPS 16-17 (Attachment 1).
The proposed ROPS requests funds to pay for ongoing debt service and administration. It also
includes a request for funds to pay for interchange projects at Old Redwood Highway and the
future Rainier interchange crossing. We are able to request these funds as a result of newly
adopted legislation that allows cities to recapture previous obligations related to State highway
projects.
ATTACHMENTS
1. Resolution Adopting a Fiscal year 16-17 Recognized Obligation Payment Schedule