STAFF REPORT
Lancaster Successor Agency
SA CC 2
1/23/2024
JC
Date: January 23, 2024
To: Mayor Parris and City Council Members
From: George N. Harris, Finance Director
Subject: Successor Agency Administrative Budgets for the Periods July 1, 2024, to December 31, 2024, and January 1, 2025, to June 30, 2025.
Recommendation:
Adopt
Resolution No. SA 01-24, approving the Successor Agency of the Former Redevelopment Agency to t he City of Lancaster Administrative Budgets for t he periods of July 1, 2024, to December 31, 2024, and January 1, 2025, to June 30, 2025, as detailed in Attachments A & B.
Fiscal Impact:
The expenditure s listed in the attachme nt are to be pa id from property tax distributions; note payments, other revenues, and loans from the City of Lancaster if needed.
Background:
Health and Safety Code Section 34177(j) requires successor agencies to adopt six-month budgets.
These budgets are developed from the enforceable obligations listed on the Recognized Obligation Payment Schedule for the period July 1,
2024, to June 30, 2025. Each budget recommended for
approval covers the corresponding six-month period of July 1, 2024, to Dec ember 31, 2024, and January 1, 2025, to June 30, 2025.
Attachment:
Resoluti
on No. SA 01-24
Attachment A - Administrative Budget for the Period July 1, 2024, to December 31, 2024 Attachment B - Administrative Budget for the Period January 1, 2025, to June 30, 2025