Report Prepared by: Venus Rodriguez, Finance Officer
Title
SUBJECT: Adoption of Resolution of the Successor Agency to the Redevelopment Agency of the City of Merced Approving an Amended Recognized Obligation Payment Schedule for January 1, 2024 Through June 30, 2024 (Amended ROPS 23-24B)
REPORT IN BRIEF
Considers approving and adopting an amended Recognized Obligation Payment Schedule as the Successor Agency to the Redevelopment Agency of the City of Merced for January 1, 2024 through June 30, 2024 which is due to the Department of Finance by October 1, 2023.
RECOMMENDATION
Successor Agency - Adopt a motion:
A. Approving Resolution SA 2023-02, a Resolution of the Successor Agency to the Redevelopment Agency of the City of Merced approving the Amended Recognized Obligation Payment Schedule (ROPS 23-24B) for January 1, 2024 through June 30, 2024; and,
B. Authorizing the Finance Officer to make any necessary budget adjustments in order to establish a Fiduciary Fund for the Successor Agency with revenue and expense increases per the Amended Recognized Obligation Payment Schedule.
City Council - Adopt a motion:
A. Authorizing the Finance Officer to make any necessary budget adjustments in order to establish a Fiduciary Fund for the Successor Agency with revenue and expense increases per the Amended Recognized Obligation Payment Schedule.
Body
ALTERNATIVES
1. Approve as recommended by Staff; or
2. Approve, subject to conditions as specified by the City Council; or,
3. Refer to staff for reconsideration of specific items as requested by the City Council; or
4. Defer action until a specific date; or
5. Deny the request.
AUTHORITY
Charter of the City of Merced, Section 200; and Health and Safety Code Section 34177.7(o)(1)(E)
CITY COUNCIL PRIORITIES
As adopted in the FY 23-24 Budget
BACKGROUND
Pursuant to Assembly Bill No. 1X 26, as modified by Assembly Bill No. 1484 and as further modified by Senate Bill No. 107, which added Parts 1.8 and 1.85 to D...
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