CITY OF COMMERCEAGENDA REPORTCITY OF COMMERCEAGENDA REPORT
CITY OF COMMERCE
AGENDA REPORT
CITY OF COMMERCE
AGENDA REPORT
Item No. Item No.
Item No.
Item No.
TO: Honorable Board Members of the Successor Agency FROM: Ernie Hernandez, Executive Director
SUBJECT: A Resolution of the Successor Agency to the Commerce Community Development Commission Approving the Recognized Obligation Payment Schedule for the Period Covering July 2026 to June 2027 as Required by Section 34180 of the California Health and Safety Code Meeting Date: January 13, 2026
RECOMMENDATION:
The City Council will consider reviewing and approving the Recognized Obligation Payment Schedule (“ROPS”) for July 1, 2026 to June 30, 2027 and thereafter consider for approval and adoption the Resolution approving the “ROPS” for the period covering July 2026 to June 2027 as required by Section 34180 of the California Health and Safety Code.
BACKGROUND AND ANALYSIS:
The California Health and Safety Code Section 34179.7(o) (1) states that “agencies shall submit an oversight board approved annual ROPS to Finance and the County Auditor-Controller by February 1, 2016, and each February 1 thereafter.” The City Council of the City of Commerce adopted Resolution No. 12-8 on January 17, 2012, pursuant to part 1.85 of the Health and Safety Code, which is contained in AB 26, for the City to serve as the Successor Agency for the Commerce Community Development Commission (the “Successor Agency”). The Successor Agency is required to approve the ROPS prior to submission to the Oversight Board.
Included in the ROPS for the period of July 1, 2026 to June 30, 2027 are various enforceable obligations including debt service for bonds, approved agreements, and other legally binding commitments of the former Community Development Commission. As such, Successor Agency staff recommend that the Board approve the attached ROPS. After obtaining approval from the Successor Agency Board, the Director of Finance of the Successor Agency will transmit the ROPS to the Oversight Board for further approval and to the Los Angeles County Auditor-Controller, and, ultimately, the State Department of Finance in accordance with Section 34169 of the Health and Safety Code.
FISCAL IMPACT
If approved as recommended, staff is estimating that $6.8 million will be funded by the Redevelopment Property Tax Trust Fund (RPTTF) to meet the listed obligations.
ALTERNATIVES
Approve staff recommendation; and/or
Provide further direction to staff
Prepared by: Alvaro Castellon, Successor Agency Finance Director Respectfully Submitted: Ernie Hernandez, Successor Agency Executive Director Approved as to form: Noel Tapia, Successor Agency Legal Counsel
ATTACHMENTS
Resolution
Exhibit “A” – ROPS