STAFF REPORT
Lancaster Successor Agency
SA CC 1
1/23/2024
JC
Date:January 23, 2024
To: Mayor Parris and City Council Members
From:George N. Harris, Finance Director
Subject:Recognized Obligation Payment Schedule for July 1, 2024 to June 30, 2025.
Recommendation:
Adopt Resolution No. SA 02-24, approving the Recognized Obligation Payment Schedule for the period July 1, 2024, to June 30, 2025, and directing staff to bring the County of Los Angeles Consolidated Oversight Board for approval.
Fiscal Impact:
There is no fiscal impact of this action.
Background:
Health & Safety Code Section 34177(o)(1) requires the Successor Agencies of the previous redevelopment agencies to prepare Recognized Obligation Payment Schedules (ROPS) that list obligations to be paid for the coming July 1 to June 30. These schedules are used by the County Auditor-Controller in determining the amount of property tax revenues to distribute to the Successor Agency.
The ROPS for the period July 1, 2024, to June 30, 2025, is due to the California State Department of Finance (DOF) by February 1, 2024, for property tax distribution on June 1, 2024, and January 4, 2025. The ROPS will be submitted to the County of Los Angeles Consolidated Oversight Board for approval at its January 11, 2024 meeting.
Attachment:
Resolution No. SA 02-24
Attachment A - Recognized Obligation Payment Schedule for the period July 1, 2024 to June 30, 2025.