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CITY OF GLENDALE, CALIFORNIA
REPORT TO THE SUCCESSOR AGENCY
AGENDA ITEM
Report: FY 26-27 Recognized Obligation Payment Schedule (ROPS)
1. Successor Agency Resolution to Adopt Recognized Obligation Payment Schedule for July 2026 through June 2027 (ROPS 26-27) including Administrative Budget for same period
COUNCIL ACTION
Item Type: Action Item
Approved for December 9, 2025 calendar
EXECUTIVE SUMMARY
Each year, the Successor Agency must approve its Recognized Obligation Payment Schedule (ROPS), serving as its next year operating budget. Once approved by the Agency, it is reviewed and considered for approval by the Los Angeles County Consolidated Oversight Board and State Department of Finance (DOF). 22 24-86859
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RECOMMENDATION
That the Successor Agency adopt a resolution approving the Recognized Obligation Payment Schedule for July 2026 through June 2027 (ROPS 26-27).
ANALYSIS
The Dissolution Act requires a Successor Agency to prepare annual payment schedules known as Recognized Obligation Payment Schedules (ROPS) in order to receive tax increment funding (referred to as Redevelopment Property Tax Trust Fund or “RPTTF”).
The ROPS documents the financial obligations of the Successor Agency and is used as the Agency’s spending plan for the fiscal year (July 1 through June 30).
The ROPS consists of the following four sections:
- Summary – Summarizes the proposed ROPS funding including funding sources, total RPTTF requested, and administrative costs; - ROPS Detail – Details all of the funding items and funding sources for the proposed ROPS;
- Report of Cash Balances – Estimates the cash resources available to fund the proposed ROPS. This spreadsheet complies with a template provided by Department of Finance (DOF) and only reports the fiscal year 23-24 period; and
- Notes - Provides clarifying information about ROPS Detail line items.
Following Successor Agency approval, the ROPS is scheduled to be presented to the Los Angeles County Consolidated Oversight Board on January 8, 2026. It will then be submitted to the State Department of Finance and posted on the Successor Agency's website by February 1, 2026, the statutory deadline.
ROPS FUNDING REQUESTS
The Successor Agency has completed its debt service payments. There are no current obligations for payment except the administrative costs to amend the Disney contract (the Agency’s final contractual obligation) to meet the parameters of the Last & Final request. The ROPS payments noted are best estimates at the time of preparation. Any unspent money is calculated at the end of the ROPS period and reported back to the State. This money is then placed into reserves and spent on obligations on the following year’s ROPS.
STAKEHOLDERS/OUTREACH
Following Successor Agency approval, this item will be presented to the LA County Consolidated Oversight Board on January 8, 2026 and submitted to State Department of Finance (DOF) before February 1, 2026.
FISCAL IMPACT
As summarized on the “Summary” page of ROPS 26-27, the total spending authority 23 24-86859
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requested is $113,206. All of these funds are currently available in the Agency’s cash reserves, so no new RPTTF is requested.
ENVIRONMENTAL REVIEW (CEQA/NEPA)
This item is considered a ministerial activity and therefore, not subject to CEQA review.
CAMPAIGN DISCLOSURE
This item is exempt from campaign disclosure requirements.
ALTERNATIVES TO STAFF RECOMMENDATION
1. Do not approve the ROPS. This alternative is not recommended because if the ROPS is not submitted to the DOF by February 1, 2026 the penalties to the City are $10,000 per day.
ADMINISTRATIVE ACTION
Submitted by:
Bradley Calvert, Director of Community Development
Prepared by:
Tamar Sadd, Deputy Director of Community Development
Approved by:
Roubik R. Golanian, P.E., City Manager
EXHIBITS/ATTACHMENTS
Exhibit 1: Recognized Obligation Payment Schedule for July 2026 through June 2027 (ROPS 26-27)
Exhibit 2: ROPS 26-27 Administrative Budget