Report Prepared by: Sierra Omlin, Economic Development Associate
Title
SUBJECT: Adoption of Resolution of the Successor Agency to the Redevelopment Agency of the City of Merced Approving a Recognized Obligation Payment Schedule for July 1, 2024 Through June 30, 2025 (ROPS 24-25)
REPORT IN BRIEF
Considers approving and adopting a Recognized Obligation Payment Schedule as the Successor Agency to the Redevelopment Agency of the City of Merced for July 1, 2024 through June 30, 2025, which is due to the Department of Finance by February 1, 2024.
RECOMMENDATION
Successor Agency - Adopt a motion:
A. Approving Resolution SA 2024-01, a Resolution of the Successor Agency to the Redevelopment Agency of the City of Merced approving the Recognized Obligation Payment Schedule (ROPS 24-25) including Administrative Budget for July 1, 2024 through June 30, 2025; and,
B. Authorizing the Finance Officer to make any necessary budget adjustments.
Body
ALTERNATIVES
1. Approve, as recommend 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 will be adopted in the FY 24-25 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 Division 24 of the Health and Safety Code ("Dissolution Act"), the former Redevelopment Agency of the City of Merced ("Former Agency") was dissolved February 1, 2012. Because ethe City of Merced ("City") declined to serve as the successor agency, the Merced Designated Local Authority, acting as Successor Agency to the Redevelopment Agency for Merced ("DLA"), was vested with all authority, rights, powe...
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