Redevelopment Property Tax Trust Fund (“RPTTF”) revenues (columns O,P, U, and V on ROPS Detail) along with authority to spend $704,335 in “Other Funds” (columns N and T on ROPS Detail) to pay its obligations. Note that RPTTF revenues are generated by the Successor Agency’s property tax increment. The Other Funds will be received from the Town’s portion of the former Victor Valley Economic Development Authority (“VVEDA”) Redevelopment Project Area to pay for obligations associated with the Town’s portion of the VVEDA Project Area. The approval of the Successor Agency’s ROPS 26- 27, attached as Attachment “B”, is critical to ensure the continued flow of property taxes to the Successor Agency, thereby enabling the payments of scheduled debt service on bonded indebtedness and other obligations. Should a successor agency not submit a ROPS to the DOF by February 1, the sponsoring entity could be subject to a $10,000 civil penalty for each day the ROPS is delinquent. HSC Section 34177(j) requires successor agencies to prepare an annual proposed administrative budget and submit it to the oversight board for its approval. The Successor Agency has prepared an Administrative Budget for Fiscal Year (“FY”) 2026-27, attached as Attachment “C” analysis Some reports do not need analysis, if that sounds like yours please delete this heading.
ANALYSIS
In addition to a list of enforceable obligations for the upcoming fiscal year, the ROPS form includes a Report of Cash Balances where successor agencies identify any available funds on hand that can be used to pay enforceable obligations. After all available funds on hand are allocated, the Successor Agency can request funding for enforceable obligations from property tax increment revenue deposited by the Auditor-Controller in the RPTTF. Allocations of RPTTF require approval by the Oversight Board and DOF. The following sections elaborate on the enforceable obligations listed on the ROPS and significant aspects of the Cash Balances.
TAX ALLOCATION BONDS DEBT SERVICE
The Successor Agency refunded the 2005 VVEDA Tax Allocation Bonds, 2007 VVEDA Tax Allocation Bonds, and the 2007 Apple Valley Project Area 2 Bonds with an issue of 2020 VVEDA Tax Allocation Refunding Bonds (“2020 VVEDA Bonds”) and 2020 Apple Valley Project Area 2 Bonds (“2020 Project Area 2 Bonds”), in order to take advantage of lower interest rates and reduce the sum of total future debt service payments. The refunding enabled the Successor Agency to retire the 2005 and 2007 VVEDA Bonds and the 2007 Project Area 2 Bonds (ROPS Items 1, 2, and 8), which were replaced with items 45 and 46 on the ROPS. The 2020 VVEDA Bonds were issued by VVEDA and are secured by property tax increment from the Town’s portion of the VVEDA Project Area.
The 2020 Project Area 2 Bonds were issued by the Successor Agency and are secured by property tax increment revenues from its own former Redevelopment Project Area 2.
These Bonds were issued for the acquisition and construction of two sites, as well as the financing of certain public capital improvements.
The Successor Agency receives funding from VVEDA’s RPTTF for the 2020 VVEDA Bonds. Therefore, for the Successor Agency, these funds are considered Other Funds.
Per the debt service schedule, the Successor Agency requests the following on the current ROPS:
2020 VVEDA Bonds (ROPS item 45): $701,000
The Successor Agency must also request to spend its own RPTTF funding for the 2020 Project Area 2 Bonds. Per the debt service schedule, the Successor Agency requests the following on the current ROPS:
2020 Project Area 2 Bonds (ROPS item 46): $2,379,800
TAX ALLOCATION BONDS FEES AND COSTS
The Successor Agency requests funding for trustee fees and continuing disclosure services associated with the Bonds. The Successor Agency requests the following for the VVEDA Bonds obligations from Other Funds:
2020 Tax Allocation Refunding Bonds Trustee Fees (ROPS item 47): $725 2020 Tax Allocation Refunding Bonds Continuing Disclosure Services (ROPS item 48): $2,610
The Successor Agency requests the following for the Project Area 2 Bonds obligations from RPTTF:
2020 Tax Allocation Refunding Bonds Trustee Fees (ROPS item 49): $2,300 2020 Tax Allocation Refunding Bonds Continuing Disclosure Services (ROPS item 50): $7,904
SUCCESSOR AGENCY ADMINISTRATIVE COSTS
HSC Section 34177(j) requires the Successor Agency to prepare an Administrative Budget and submit it to the Oversight Board for approval. Per HSC Section 34177, each successor agency is limited to an administrative cost allowance of the greater of $250,000 or 3% of its approved non-administrative obligations in the previous ROPS year.
However, the administrative allowance cannot exceed 50 percent of RPTTF distributed in the prior fiscal year, excluding the administrative allowance and any City/former redevelopment agency loan repayments. The Successor Agency is expected to receive $1,593,047 in non-administrative RPTTF distributed in the ROPS 25-26 period, allowing the Successor Agency to request the greater of $250,000 or $47,791. The Successor Agency does not anticipate needing the entire $250,000 minimum annual administrative allocation described in HSC Section 34171(b) and is requesting $145,000 (ROPS item 17), with the full amount requested in 26-27A period.
This is the same amount as the previous year. An Administrative Budget for FY 2026-27 is attached as Attachment “C.”
CASH BALANCES
The Cash Balances page shows the inflow and outflow of funds held by the Successor Agency. Funds are being spent in a timely manner and consistent with the approvals of
the Oversight Board and DOF. The Cash Balances page helps the Successor Agency to identify other funds available to spend on enforceable obligations, detailed as follows:
$(19,811) of Other Funds remains after the ROPS 23-24 period and available for re-allocation to ROPS 26-27 obligations.
$21,099 of RPTTF is remaining after the ROPS 23-24 period and available for reallocation to ROPS 26-27 obligations.
LAST AND FINAL ROPS
Pursuant to HSC section 34191.6(a), beginning January 1, 2016, agencies that have received a Finding of Completion may submit a Last and Final ROPS if all the following conditions are met:
1) The remaining debt is limited to administrative costs and payments pursuant to enforceable obligations with defined payment schedules including, but not limited to, debt service, loan agreements, and contracts.
2) All remaining obligations have been previously listed on the ROPS and approved for payment by Finance pursuant to HSC section 34177(m) or (o). 3) The agency is not a party to outstanding/unresolved litigation, except as specified in HSC section 34191.6(a)(3). A Last and Final ROPS would reduce the administrative burden on the Successor Agency and eliminate the need for Oversight Board meetings to approve the ROPS. However, the Successor Agency could amend the Last and Final ROPS only twice. The Successor Agency has not yet determined whether it is in a position to submit a Last and Final ROPS.
OVERSIGHT BOARD CONSOLIDATION
As of July 1, 2018, the San Bernardino Countywide Oversight Board was established pursuant to HSC Section 34179(j). Accordingly, rather than all successor agencies in San Bernardino County each having their own oversight board, one Consolidated Oversight Board reviews actions taken by all of the successor agencies within the County and can direct all of the same successor agencies to perform certain actions. The Oversight Board has scheduled its general meetings to occur approximately once per month. The Oversight Board will consider approval of the Successor Agency’s ROPS 26-27 on January 12, 2026. The Successor Agency already submitted its ROPS and related documents to Oversight Board staff for review at this meeting.
FISCAL IMPACT
There is no fiscal impact on Town’s General Fund or any other Fund as a result of filing ROPS 26-27. Admin costs of $145,000 for staff time will be credited in the respective allocated Funds. The ROPS 26-27 was submitted on February 1, 2026, and approved by the DOF on March 20, 2026. The Successor Agency to received RPTTF, administered by the Auditor-Controller, to pay enforceable obligations during the ROPS 26-27 period.
ATTACHMENTS
A. Resolution No. SA 2026-01 approving and authorizing transmittal of a Recognized Obligation Payment Schedule and administrative budget for Fiscal Year 2026-27.
B. Town of Apple Valley Successor Agency ROPS 26-27.
C. Town of Apple Valley Successor Agency Fiscal Year 2026-27 Administrative Budget.
RESOLUTION NO. SA 2026-01
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE
REDEVELOPMENT AGENCY OF THE TOWN OF APPLE
VALLEY APPROVING AND AUTHORIZING TRANSMITTAL
OF A RECOGNIZED OBLIGATION PAYMENT SCHEDULE
AND ADMINISTRATIVE BUDGET FOR FISCAL YEAR
2026-27
WHEREAS, pursuant to Assembly Bill (“AB”) x1 26, enacted on June 28, 2011, and as subsequently amended by AB 1484, and Senate Bill 107 (collectively, "Dissolution Act"), as codified in the California Health & Safety Code (“HSC”), the Redevelopment Agency of the Town of Apple Valley (“Former Agency”) was dissolved as of February 1, 2012; and
WHEREAS, the Town of Apple Valley (“Town”) elected to serve as the Successor Agency to the Former Agency (“Successor Agency”) pursuant to the Dissolution Act; and WHEREAS, among the duties of successor agencies under the Dissolution Act as amended is the preparation of an annual Recognized Obligation Payment Schedule (“ROPS”), per HSC Section 34177(l), that includes the ensuing fiscal year for consideration by a consolidated oversight board and the California Department of Finance (“DOF”) for purposes of administering the wind-down of financial obligations of the Former Agency; and
WHEREAS, HSC Section 34177(l) further requires that the proposed ROPS be transmitted to the San Bernardino County Consolidated Oversight Board (“Oversight Board”), after which time the Oversight Board may approve the ROPS and the Successor Agency’s transmittal of the adopted ROPS to DOF, the San Bernardino County AuditorController, and the State Controller’s Office for their consideration; and WHEREAS, the proposed ROPS for Fiscal Year 2026-27 (“ROPS 26-27”), attached hereto as Attachment “B,” has been prepared and is consistent with the provisions of the Dissolution Act and in the format made available by DOF; and WHEREAS, the Successor Agency desires to approve the proposed ROPS 26-27 and transmit it to various parties as required by the Dissolution Law; and WHEREAS, the Successor Agency is required to prepare an annual administrative budget and submit it to an oversight board per HSC Section 34177(j); and WHEREAS, the Successor Agency prepared the Fiscal Year 2026-27 Administrative Budget in accordance with the Dissolution Act, attached hereto as Attachment “C”; and
WHEREAS, the Successor Agency’s proposed Fiscal Year 2026-27 Administrative Budget has been reviewed, and by this Resolution the Successor Agency desires to approve such Administrative Budget and authorize submittal thereof to the Oversight Board for its review and approval; andPage 155 of 162
Resolution SA NO. 2026-01
WHEREAS, the Oversight Board will review the ROPS 26-27 and Fiscal Year 2026-27 Administrative Budget on January 12, 2026.
NOW, THEREFORE, THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE TOWN APPLE VALLEY DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The foregoing recitals are true and correct and are a substantive part of this Resolution, incorporated herein by this reference.
SECTION 2. The Successor Agency hereby approves and adopts the ROPS 25- 26 covering the period of July 1, 2026 through June 30, 2027, in substantially the form attached hereto as Attachment “B,” as required by Dissolution Law.
SECTION 3. Pursuant to the Dissolution Act, the Successor Agency approves the Fiscal Year 2026-27 Administrative Budget for the period of July 1, 2026 to June 30, 2027 submitted herewith as Attachment “C,” which is incorporated herein by this reference.
SECTION 4. The Successor Agency accepts administrative revisions made to the ROPS 26-27 in order to enable the Successor Agency to submit the ROPS 26-27 to DOF by the deadline of February 1, 2026.
SECTION 5. The Town Manager is hereby authorized and directed to post a copy of the ROPS on the Town’s website and transmit a copy of the ROPS to the offices of the San Bernardino County Auditor-Controller, the California State Controller’s Office, and the California State Department of Finance upon the Oversight Board’s approval.
APPROVED and PASSED this 14th day of April 2026.
Successor Agency to the Redevelopment
Agency of the Town of Apple Valley
ATTEST:
BY:
Chair, Scott Nassif
Successor Agency Secretary,
La Vonda M-Pearson
Successor Agency: Apple Valley
County: San Bernardino
Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 26-27 A Total
(July - December)
26-27 B Total
(January - June) ROPS 26-27 Total
A Enforceable Obligations Funded as Follows (B+C+D): $ 178,835 $ 525,500 $ 704,335 B Bond Proceeds - - -
C Reserve Balance - - -
D Other Funds 178,835 525,500 704,335
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G): $ 572,604 $ 1,962,400 $ 2,535,004 F RPTTF 427,604 1,962,400 2,390,004
G Administrative RPTTF 145,000 - 145,000
H Current Period Enforceable Obligations (A+E): $ 751,439 $ 2,487,900 $ 3,239,339 Certification of Oversight Board Chairman: David Wert Chairman Pursuant to Section 34177 (o) of the Health and Safety Code, I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named successor agency. Signature Date
Recognized Obligation Payment Schedule (ROPS 26-27) - Summary Filed for the July 1, 2026 through June 30, 2027 Period
A B C D E F G H I J K L M N O P Q R S T U V W
Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF $ 39,058,929 $ 3,239,339 $ - $ - $ 178,835 $ 427,604 $ 145,000 $ 751,439 $ - $ - $ 525,500 $ 1,962,400 $ - $ 2,487,900 17 Admin Costs Admin Costs 7/1/2026 6/30/2027 Town of Apple Valley Dissolution Activities and Services VVEDA/AVRDA Project Area 2 1,595,000 N $ 145,000 145,000 $ 145,000 $ - 45 2020 Tax Allocation Refunding Bonds
(VVEDA)
Refunding Bonds Issued
After 6/27/12
9/9/2020 6/1/2037 US Bank 2020 Tax Allocation Refunding Bonds for Capital Projects
VVEDA
11,109,800 N $ 701,000 175,500 $ 175,500 525,500 $ 525,500 46 2020 Tax Allocation Refunding Bonds
(PA2)
Refunding Bonds Issued
After 6/27/12
9/9/2020 6/1/2037 US Bank 2020 Tax Allocation Refunding Bonds for Capital Projects/ Housing
Projects
Project Area 2
26,205,200 N $ 2,379,800 417,400 $ 417,400 1,962,400 $ 1,962,400 47 2020 Tax Allocation Refunding Bonds
Trustee Fees (VVEDA)
Fees 9/9/2020 6/1/2037 US Bank Annual Fiscal Agent for VVEDA Project Area Bonds
VVEDA
7,975 N $ 725 725 $ 725 $ -
48 2020 Tax Allocation Refunding Bonds
Continuing Disclosure (VVEDA)
Professional Services 9/9/2020 6/1/2037 Urban Futures Professional Service Costs relating to Annual Disclosure Requirements
VVEDA
28,710 N $ 2,610 2,610 $ 2,610 $ -
49 2020 Tax Allocation Refunding Bonds
Trustee Fees (PA2)
Fees 9/9/2020 6/1/2037 US Bank Annual Fiscal Agent Fees for Project Area 2 Bonds
Project Area 2
25,300 N $ 2,300 2,300 $ 2,300 $ -
50 2020 Tax Allocation Refunding Bonds
Continuing Disclosure (PA2)
Professional Services 9/9/2020 6/1/2037 Urban Futures Professional Service Costs relating to Annual Disclosure Requirements
Project Area 2
86,944 N $ 7,904 7,904 $ 7,904 $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
ROPS 26-27
Total
26-27 A (July - December)
Fund Sources 26-27 A
Total
26-27 B (January - June)
Fund Sources
Town of Apple Valley Recognized Obligation Payment Schedule (ROPS 26-27) - ROPS Detail July 1, 2026 through June 30, 2027
(Report Amounts in Whole Dollars)
Item # Project Name/Debt Obligation Obligation Type Contract/Agreement Execution Date
Contract/Agreement
Termination Date Payee Description/Project Scope Project Area Total
Outstanding
Debt or
Obligation
26-27 B
Total Retired
A B C D E F G H
Reserve Balance Other Funds RPTTF
Bonds issued on or
before 12/31/11
Bonds issued on or
after 01/01/12
Prior ROPS RPTTF
and Reserve
Balances retained for
future period(s)
Rent,
Grants,
Interest, etc.
Non-Admin
and
Admin
1 Beginning Available Cash Balance (Actual 07/01/23)
RPTTF amount should exclude "A" period distribution amount 0 0 0 120,858 75,714
Column G is equal to the sum of the 20-21 PPA
($35,300), the 21-22 PPA ($18,324), and the 22-23
PPA ($22,090).
2 Revenue/Income (Actual 06/30/24)
RPTTF amount should tie to the ROPS 23-24 total distribution from the County Auditor-Controller
0 0 0 213,085 979,945
Column F includes interest income as well as the
funding that the Successor Agency receives from
VVEDA's RPTTF for the 2020 VVEDA Bonds and
trustee fees and continuing disclosure services
related to those bonds.
3 Expenditures for ROPS 23-24 Enforceable Obligations
(Actual 06/30/24)
0 0 0 353,754 994,146
4 Retention of Available Cash Balance (Actual 06/30/24) RPTTF amount retained should only include the amounts
distributed as reserve for future period(s)
0 0 0 0 40,414
Column G is equal to the sum of the 21-22 PPA
($18,324) and 22-23 PPA ($22,090).
5 ROPS 23-24 RPTTF Prior Period Adjustment
RPTTF amount should tie to the Agency's ROPS 23-24 PPA
form submitted to the CAC
21,099
6 Ending Actual Available Cash Balance (06/30/24)
C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5) $ 0 $ 0 $ 0 $ (19,811) $ 0 No entry required
Town of Apple Valley Recognized Obligation Payment Schedule (ROPS 26-27) - Report of Cash Balances July 1, 2023 through June 30, 2024
(Report Amounts in Whole Dollars)
ROPS 23-24 Cash Balances
(07/01/23 - 06/30/24)
Fund Sources
Comments
Bond Proceeds
Item # Notes/Comments
45 The Successor Agency receives these funds from the VVEDA Successor Agency, which requests funding for these line items on their ROPS. 47 The Successor Agency receives these funds from the VVEDA Successor Agency, which requests funding for these line items on their ROPS. 48 The Successor Agency receives these funds from the VVEDA Successor Agency, which requests funding for these line items on their ROPS.
Town of Apple Valley Recognized Obligation Payment Schedule (ROPS 26-27) - Notes July 1, 2026 through June 30, 2027
ATTACHMENT C
$ 145,000 $ 124,898 $ 20,102 $ 145,000 $ 145,000 $ -
- - -
$ 145,000 $ 124,898 $ 20,102 $ 145,000 $ 145,000 $ -
STAFF:
Finance Director
19% $ 28,600 $ 30,600 $ (2,000) $ 28,600 $ 44,200 $ (15,600) Finance Analyst
0% 23,500 25,143 (1,643) 23,500 - 23,500
Finance Manager
10% 12,500 13,374 (874) 12,500 24,200 (11,700)
Accountant I/II
15% 14,000 14,980 (980) 14,000 37,500 (23,500)
Town Manager
0% 15,600 16,691 (1,091) 15,600 - 15,600
Town Attorney
5% 9,100 9,736 (636) 9,100 9,100 -
Town Clerk
0% 11,700 12,518 (818) 11,700 - 11,700
Consultants
N/A $ 30,000 $ 1,856 $ 28,144 $ 30,000 $ 30,000 $ -
$ 124,898 145,000 $ 20,102 $ 145,000 $ 145,000 $ - $
Methodology Implementation Date: 10/23/2025
1 Itemized "Expenses" should only reflect the portion paid by RPTTF, not General Fund or other funds $ 123,042 115,000 $ (8,042) $ 115,000 $
BUDGET METHODOLOGY (Specify: Cost Allocation Plan, Time Study, etc.): Time Study ADMINISTRATIVE BUDGET FY:
Requested
FY 2026-27
Total Administrative Budget
Complete all four columns for Revenue and Expenses
throughout form.
Requested
FY 2025-26
Actual
FY 2024-25
Requested
FY 2024-25
RPTTF to Successor Agency1
Entity General Fund to Cover RPTTF Shortfall (If applicable) 2026 - 2027 SUCCESSOR AGENCY NAME: Town of Apple Valley = Variance
= Variance
Total Expenses - should equal "RPTTF to Successor Agency"1 Requested
FY 2024-25
Records and posts into
general ledger, keeping
records. Assists with review
and responses to information
requests.
Prepare ROPS, PPA, staff
reports, and resolutions;
attend meetings, coordinate
with staff on responses to OB,
CAC, and DOF; project cash
flow
ADMINISTRATIVE COSTS %
Allocated
$ 115,000
Other/Indirect: Other - Specify Purpose %
Allocated
Sub-Total Personnel Costs
$ -
Review staff reports,
resolutions, provide legal
services as needed
REVENUE
EXPENSES1
= Variance
= Variance
Requested
FY 2026-27
Actual
FY 2024-25
Requested
Description FY 2025-26
Reviewing agenda items,
research for ROPS, responding
to OB, CAC, and DOF. Oversees
all Successor Agency activity.
Processes and reviews all
invoices, payments, general
ledger analysis. Coordinates
Successor Agency Agenda
Items, Staff Reports,
Resolutions.
COMMENTS/NOTES ON VARIANCES:
Town Council Agenda Report
Date: April 14, 2026
To: Honorable Mayor and Town Council
Subject: CLOSED SESSION
From: Guy Eisenbey, Town Manager
Submitted by: Thomas Rice, Town Attorney
Budgeted Item: Yes No N/A
RECOMMENDED ACTION
A. CONFERENCE WITH LEGAL COUNSEL – EXISTING LITIGATION
(Paragraph (1) of subdivision (d) of Section 54956.9)
Name of case: Grandma Betty’s Animal Rescue et al. v. Town of Apple Valley, San Bernardino Superior Court, Case No. CIVVS2507882