RESOLUTION NO. SA 2025-_
A RESOLUTION OF THE SUCCESSOR AGENCY TO
THE REDEVELOPMENT AGENCY OF THE CITY OF
MERCED, APPROVING A RECOGNIZED OBLIGATION
PAYMENT SCHEDULE (ROPS 25-26) INCLUDING
ADMINISTRATIVE BUDGET FOR JULY 1, 2025
THROUGH JUNE 30, 2026
WHEREAS, the Successor Agency to the Redevelopment Agency of the City of Merced (the "Successor Agency") is charged with implementing recognized enforceable obligations and winding down of the affairs of the former Redevelopment Agency of the City of Merced (the "Agency") in accordance with the California Health and Safety Code; and
WHEREAS, Health and Safety Code Section 34177 requires the Successor Agency to prepare and adopt a "Recognized Obligation Payment Schedule" that lists all obligations of the former redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34171 for twelve- month periods, including July 1, 2025 through June 30, 2026, including an administrative cost budget; and
WHEREAS, applicable law requires that the ROPS 25-26 for the period July 1, 2025 through June 30, 2026 must be submitted to the Department of Finance and the State Controller's office, after approval by the Oversight Board, no later than February 1, 2025 or be subject to penalties; and WHEREAS, the Oversight Board to the Successor Agency will consider approval of the Recognized Obligation Payment Schedule 25-26 for the period July 1, 2025 through June 30, 2026, and the administrative cost budget, on January 23, 2025; and
WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred.
X: Resolutions|2024\Economic Development|Resolution_ROPS 25-26.docx 1 NOW, THEREFORE, THE SUCCESSOR AGENCY TO THE
REDEVELOPMENT AGENCY OF THE CITY OF MERCED, DOES
HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
SECTION 1. The Recitals set forth above are true and correct and incorporated herein by reference
SECTION 2. The Successor Agency hereby approves (a) the Schedule attached hereto as Exhibit A as the Recognized Obligation Payment Schedule 25-26 for the period July 1, 2025 through June 30, 2026, and (b) the administrative cost budget attached hereto as Exhibit B for the ROPS 25-26 period. Pursuant to Health & Safety Code Section 34173, the Successor Agency's liability, including, but not limited to, its liability for the obligations on the attached schedule, is limited to the total sum of property tax revenues it receives pursuant to Part 1.85 of AB X1 26.
SECTION 3. The Executive Director, or his or her designee, is hereby authorized to submit the ROPS 25-26 and administrative cost budget to such parties as may be required in accordance with the Health & Safety Code, and to take such other actions on behalf of the Successor Agency with respect to the ROPS 25-26 and administrative cost budget as may be necessary in accordance with applicable law.
SECTION 4. If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution which can be given effect without the invalid provision or application, and to this end the provisions of this Resolution are severable. The Successor Agency hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof.
SECTION 5. This Resolution shall take effect from and after the date of its passage and adoption in accordance with, and subject to, all applicable requirements of the Health & Safety Code.
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X: Resolutions 2024\Economic Development|Resolution_ROPS 25-26.doex 2 PASSED, APPROVED AND ADOPTED at a regular meeting of the Successor Agency to the Redevelopment Agency of the City of Merced, held this AYES: Council Members:
NOES: Council Members:
ABSENT: Council Members:
ABSTAIN: Council Members:
APPROVED:
MATTHEW SERRATTO, MAYOR
Mayor
X:Resolutions|2024\Economic Development|Resolution_ROPS 25-26.docx 3 ATTEST:
D. SCOTT MCBRIDE, CITY CLERK
BY:
Assistant/Deputy City Clerk
(SEAL)
APPROVED AS TO FORM:
CRAIG J. CORNWELL, CITY ATTORNEY
Gill 12/30/2004
Attachments:
Exhibit A- ROPS 25/26
Exhibit B- Administrative Budget
X:\Resolutions|2024\Economic DevelopmentResolution_ROPS 25-26.docx 4 Recognized Obligation Payment Schedule (ROPS 25-26) - Summar -iled for the July 1, 2025 through June 30, 2026 Perio
Successor Agency: Merced City
County: Merced
Current Period Requested Funding for Enforceable 25-26A Total 25-26B Total ROPS 25-26 Obligations (ROPS Detail) (July- (January -
December) June) Total
A Enforceable Obligations Funded as Follows (B+C+D) $ $ $ B Bond Proceeds
C Reserve Balance : :
D Other Funds -
281,762 $ 2024,600 -
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) $ 1,762,838 F RPTTF 1,697,838 196,762 1,894,600
G Administrative RPTTF 65,000 65,000
130,000
H Current Period Enforceable Obligations (AtE) $ 1,762,838 $ 261,762 $ 2,024,600 Certification of Oversight Board Chairman:
Name Title
Pursuant to Section 34177 (o) of the Health and Safety
code, I hereby certify that the above is a true and
accurate Recognized Obligation Payment Schedule for
the above named successor agency. Isl
Signature Date
EXHIBIT A
Merced City
Recognized Obligation Payment Schedule (ROPS 25-26) - ROPS Detall July 1, 2025 through June 30, 2026
-
ROPS 25-26A (Jul - Dec) ROPS 25-26B (Jan - Jun)
Agreement Agreement Total ROPS Fund Sources 25-26A Fund Sources 25-26B Obligation Payee Description Project Outstanding Retired 25-26 Total Total Item Project Name Execution Termination Area Bond Reserve Other Admin Bond Reserve Other Date Obligation Total RPTTF Proceeds Balance Funds RPTTF RPTTF Proceeds Balance Funds RPTTF
$2,024,600 $2,024,600 $- $1,697,838 $65,000$1,762,838 $ $196,762$65,000$261,762 11/13/ 09/01/2038 Kosmont Continuing Gateways 6,000 $6,000 6,000 $6,000 14 Gateways/
Cost of Companies Disclosure
Continuing
Disclosure $2,500
Fees 06/30/2026 Eide Baily Annual Audit All 2,500 $2,500 2,500 45 Project Area 07/01/
#2 Annual LLP Fees for
Audit Fees Bond
Compliance
6/30/22
06/30/2026 Eide Bailly, Annual Audit All 2,500 $2,500 2,500 $2,500 46 Gateways/ Fees 07/01/
Annual Audit 2025 LLP Fees for
Bond
Compliance
6/30/22
73 Successor Legal 07/01/ 06/30/2025 Liebold Legal
Agency Legal McClendon Services for
Counsel & Mann bond
compliance,
project
administration
& contract
DDA/OPA
compliance
147C-
Costco
renatone
and related
property
matters
75 Project #2/ Miscellaneous 07/13/ 06/30/2025 Various Obligation to Project Lease of Area #2
Successor Property to
Agency Costco &
property to
Costco for
Parking Lot Purchase
Option t Property to
Purchase Costco
same
06/30/2026 Provost & Remediation Project 828,200| $828,200 828,200 S828,200 76 R Street Remediation 12/01/
other costs
closing and
escrow,
Insurance,
Vendors 2025 Dispositions costs
Appraisals, 06/30/2026 Various 07/01/ Property 105 Conveyance $10,000 10,000 $10,000 10,000
services Services
professional Trust NA 2015 Trustee
$2,500 $2,500 2,500 Bond agent Gateways 09/01/2038 Wilmington 07/22/ Fees 102 Gateways/ Series A
Bonds 2015
After 6/27/12 Refunding
Trust NA Bonds Issued 2015 Allocation
831,138 $1,027,900 1,027,900 Gateways Payment 09/01/2038 Wilmington 07/221 100 Gateways Tax Refunding - $196,762 196,762 $831,138
Costs
Administration
2012 Agency
$65,000 - 65,000 $130,000 130,000 Admin costs All 09/01/2038 Various 102/01/ Admin Costs 94 Successor 65,000 $65,000
remediation
related
property and
Costco
34171 (b) -
per HSC
compliance
DDA/OPA Merced activities
& contract City of remediation
Companies/ bond, project Property and Maintenance 2025
$15,000 15,000 $15,000 15,000 Services for All 06/30/2026 Kosmont 07/01/ Property 90 Costco Prichard
Provost and
Agency and
Successor
between
Agreement
Services
Consultant
Properties
Area #2 of R Street Pritchard 2012 Remediation
RPTTF Proceeds Balance Funds RPTTF RPTTF Proceeds Balance Funds RPTTF Admin Reserve Other Bond Admin [Reserve Other T Bond Total Obligation Type Total Total 25-26 Outstanding Retired Description Obligation Item Project Name Fund Sources 25-26A Fund Sources Project
25-26B ROPS
ROPS 25-26B (Jan - Jun) ROPS 25-26A (Jul - Dec)
> = M N
Merced City
Recognized Obligation Payment Schedule (ROPS 25-26) - Report of Cash Balances July 1, 2022 through June 30, 2023
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177(1), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation.
Fund Sources
Bond Proceeds Reserve Balance Other Funds RPTTF
Prior ROPS
RPTTF and Comments
ROPS 22-23 Cash Balances Bonds issued
(07/01/22 - 06/30/23) Bonds issued Reserve Rent, grants, Non-Admin on or before on or after Balances retained interest, etc. and Admin 12/31/10 01/01/11 for future
period(s)
1,432,612 690,740 130,589
2,110,467
amount. 3,168,006
2 Revenue/Income (Actual 06/30/23) 66,564 61,358
RPTF amount should tie to the ROPS 22-23 total
distribution from the County Auditor-Controller 2,177,515 3 Expenditures for ROPS 22-23 Enforceable Obligations 170 1,055,000 280,493 2,176,861 377,612 471,605 - E4 - 20-21 PPA and 21-22 PPA F4 - 4 Retention of Available Cash Balance (Actual 06/30/23) Approved for 23-24 and 24-25 ROPS RPTF amount retained should only include the amounts
distributed as reserve for future periods) 1,121,080
ROPS 22-23 RPTTF Prior Period Adjustment No entry required RPTF amount should tie to the Agency's ROPS 22-23 PPA
form submitted to the CAC
6 Ending Actual Available Cash Balance (06/30/23)
C to F = (1 + 2-3-4), G = (1 + 2-3-4-5)
Merced City
Recognized Obligation Payment Schedule (ROPS 25-26) - Notes July 1, 2025 through June 30, 2026
Item # Notes/Comments
14 45
....
Administrative Budget (ROPS 25/26)
Price Paige & Company $10,000.00
City of Merced $90,000.00
Leibold, McClendon & Mann $20,000.00
Other $10,000.00
$130,000.00
EXHIBIT B