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RESOLUTION NO. XX – 2023
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EAST PALO ALTO
ACTING AS THE GOVERNING BOARD OF THE SUCCESSOR AGENCY TO THE FORMER
REDEVELOPMENT AGENCY OF THE CITY OF EAST PALO ALTO
APPROVING THE FISCAL YEAR 2023-24 REVENUE AND EXPENDITURE BUDGET
FOR THE SUCCESSOR AGENCY
WHEREAS, Redevelopment agencies in California were dissolved effective February 1, 2012, under ABx1 26 enacted June 2011 (codified at section 34172 of the California Health and Safety Code) and held by the California Supreme Court to be constitutional. The Dissolution Statutes were further amended by AB 1484 enacted June 2012, AB 471 enacted February 2014, and SB107 enacted September 2015 (collectively, “Dissolution Statutes”); and
WHEREAS, pursuant to section 34172(a) of the California Health and Safety Code, the Redevelopment Agency of the City of East Palo Alto (the “Former Agency”) has been dissolved and no longer exists as a public body, corporate and politic, and pursuant to section 34173, and the Successor Agency to the Former Redevelopment Agency of the City of East Palo Alto (the “Successor Agency”) has become the successor entity to the Former Agency; and
WHEREAS, under Health and Safety Code §34179 (j), effective July 1, 2018, a Countywide Oversight Board staffed by the County Auditor-Controller was established to provide direction and oversight to successor agencies regarding the wind-down of the former Redevelopment Agencies; and WHEREAS, each related period, the Finance Department prepares a Recognized Obligation Payment Schedule (“ROPS”) which provides the basis for receiving Redevelopment Property Tax Trust Fund (“RPTTF”) monies utilized to pay the authorized obligations of the former Agency; and WHEREAS, the County Oversight Board to the Successor Agency adopted a Resolution on January 9, 2023 approving the 2023-24 Annual Recognized Obligations Schedule (ROPS); and on March 3, 2023, the Department of Finance issued a determination letter authorizing payments on the 2023-24 Annual ROPS; and
WHEREAS, the Successor Agency accounts for, and transacts, the revenues and disbursements authorized by the Oversight Board and the Department of Finance, including authorizing budget appropriations for the same, including maintaining all accounting, financial, and debt activity for the Successor Agency in a fund referred as the “Successor Agency Trust”; as such, based on staff’s recommendation, the City should seek Successor Board approval of the FY 2023-24 Successor Agency Budget.
NOW, THEREFORE, THE SUCCESSOR AGENCY TO THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF EAST PALO ALTO HEREBY:
1. Finds the foregoing recitals to be true and correct and are incorporated by reference into this action; and
2. Adopts the Fiscal Year 2023-24 Successor Agency Budget, as follows:
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PASSED AND ADOPTED this 20st day of June 2023 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
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Lisa Gauthier
Mayor
ATTEST:
James Colin A
City Clerk
APPROVED AS TO FORM:
John D. Lê
City Attorney