APPROVED AS TO FORM AND LEGALITY
OAKLAND REDEVELOPMENT
SUCCESSOR AGENCY
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ORSA COUNSEL
RESOLUTION NO. C.M.S.---------
RESOLUTION APPROVING THE SUBMISSION OF A RECOGNIZED
OBLIGATION PAYMENT SCHEDULE AND OAKLAND
REDEVELOPMENT SUCCESSOR AGENCY ADMINISTRATIVE
BUDGET FOR JULY 1, 2026 THROUGH JUNE 30, 2027, AND
TRANSMISSION OF BOTH TO THE COUNTYWIDE OVERSIGHT
BOARD, THE ALAMEDA COUNTY AUDITOR-CONTROLLER AND
THE STATE DEPARTMENT OF FINANCE FOR APPROVAL
WHEREAS, California Health and Safety Code Section 341 77 ( o ), as amended, requires a successor agency to prepare a Recognized Obligation Payment Schedule ("ROPS") listing the former redevelopment agency's recognized enforceable obligations, payment sources, the successor agency's excess bond proceeds obligations, and related information for each fiscal year period; and
WHEREAS, California Health and Safety Code Section 34177(1), as amended, requires that a ROPS be submitted to and approved by the oversight board, and submitted to the county administrator, the county auditor-controller, the State Controller, and the California Department of Finance; and
WHEREAS, California Health and Safety Code Section 341770) requires a successor agency to prepare a proposed administrative budget for submission to the oversight board for approval; and
WHEREAS, California Health and Safety Code Section 34177 (m)(l)(A) provides that the successor agency shall complete the ROPS in the manner provided for by the California Department of Finance; and
WHEREAS, the Oakland Redevelopment Successor Agency ("ORSA") has prepared a ROPS for July 1, 2026 through June 30, 2027, otherwise referred to as "FY 26-27 ROPS"; and WHEREAS, the ORSA Board wishes to submit the FY 26-27 ROPS to the Alameda County Administrator, the Alameda County Auditor-Controller, the Alameda Countywide Oversight Board, the State Controller, and the California Department of Finance for review and approval, as required; and
2646873v6 - updated 01/13/2021
WHEREAS, the FY 26-27 ROPS, when approved, will be operative on July 1, 2026, and will govern payments by ORSA after this date; and
WHEREAS, ORSA has prepared a proposed administrative budget for July 1, 2026 through June 30, 2027 and wishes to submit said administrative budget to the Alameda Countywide Oversight Board for approval; now, therefore, be it RESOLVED: That the ORSA Board hereby approves the ROPS for July 1, 2026, through June 30, 2027, attached to this Resolution as Exhibit A, and authorizes staff to submit this FY 26- 27 ROPS to the Alameda Countywide Oversight Board, the Alameda County Administrator, the Alameda County Auditor-Controller, the State Controller, and the California Department of Finance for review and approval as required per State redevelopment dissolution laws; and be it FURTHER RESOLVED: That the approved FY 26-27 ROPS shall substantially govern payments by ORSA during the FY 26-27 period; and be it
FURTHER RESOLVED: That the approval and submission of the FY 26-27 ROPS does not constitute preapproval of any project, contract, or contractor by the City; and be it FURTHER RESOLVED: That the ORSA Board hereby approves that administrative budget for July 1, 2026 through June 30, 2027, attached to this Resolution as Exhibit B, for submission to the Alameda Countywide Oversight Board for approval as required per State redevelopment dissolution laws; and be it
FURTHER RESOLVED: That the approved FY 26-27 ROPS and administrative budget approved by the Alameda Countywide Oversight Board and the California Department of Finance, together shall constitute the annual budget of ORSA; and be it FURTHER RESOLVED: That the ORSA Board hereby authorizes the ORSA Administrator or designee to appropriate funds or amend budget amounts as necessary for conformance with the final approved FY 26-27 ROPS; and be it FURTHER RESOLVED: That the ORSA Board hereby authorizes the ORSA Administrator or designee to expend, in accordance with the laws of the State of California and the City of Oakland on behalf of ORSA, appropriations for projects and activities as incorporated in the approved FY 26-27 ROPS and administrative budget; and be it FURTHER RESOLVED: That the ORSA Board hereby authorizes the ORSA Administrator or designee to transfer funds between operating funds, debt funds and capital funds to correct deficits in any of the funds as permitted by law; and to close inactive funds and transfer residual balances from these inactive funds to other active funds consistent with the approved FY 26-27 ROPS and administrative budget; and be it
FURTHER RESOLVED: That the ORSA Administrator or designee is authorized to reimburse or otherwise make payments to the City of Oakland for all costs incurred, services rendered, and payments made by the City pursuant to the approved FY 26-27 ROPS and administrative budget; and be it
2 FURTHER RESOLVED: That the ORSA Administrator or designee may transfer operating appropriations within the administrative budget between activity programs or expenditure accounts during the designated period provided that such funds remain within the total administrative budget authorized; and be it
FURTHER RESOLVED: That the ORSA Administrator or designee is authorized to revise the FY 26-27 ROPS to conform to the ROPS format prescribed by the Department of Finance when available; and be it
FURTHER RESOLVED: That the ORSA Administrator is authorized to revise the submitted FY 26-27 ROPS and/or administrative budget based on changes required as part of the County and the California Department of Finance review and approval process or new information, adjust payment amounts listed on the FY 26-27 ROPS to reflect actual expenses incurred, and take any other action with respect to the FY 26-27 ROPS and the administrative budget consistent with this Resolution and its basic purposes; and be it
FURTHER RESOLVED: That the ORSA Board has determined that the actions authorized under this Resolution are not subject to the California Environmental Quality Act ("CEQA"), pursuant to CEQA Guidelines Section 15060.
BY SUCCESSOR AGENCY, OAKLAND, CALIFORNIA,
PASSED BY THE FOLLOWING VOTE:
A YES - BROWN, FIFE, HOUSTON, GALLO, RAMACHANDRAN, UNGER, WANG, AND
PRESIDENT JENKINS
NOES-
ABSENT-
ABSTENTION -
ATTEST:. _______________ _
3 ASHA REED
Secretary of the Oakland Redevelopment
Successor Agency
SUPPLEMENTAL EXHIBIT A
FY 26-27 ROPS
(attached)
4 Successor Agency: Oakland
County: Alameda
Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 26-27A Total
(July - December)
26-27B Total
(January - June) ROPS 26-27 Total
A 12,443,044$ 703,831$ 13,146,875$
B 725,000 - 725,000
C 11,318,044 - 11,318,044
D 400,000 703,831 1,103,831
E 5,435,397$ 15,247,472$ 20,682,869$
F 5,131,677 14,943,753 20,075,430
G 303,720 303,719 607,439
H Current Period Enforceable Obligations (A+E): 17,878,441$ 15,951,303$ 33,829,744$ Chairperson
Name Title
/s/
Signature Date
Redevelopment Property Tax Trust Fund (RPTTF) (F+G):
Recognized Obligation Payment Schedule (ROPS 26-27) - Summary Filed for the July 1, 2026 through June 30, 2027 Period Enforceable Obligations Funded as Follows (B+C+D):
Bond Proceeds
Reserve Balance
Other Funds
RPTTF
Administrative RPTTF
Certification of Oversight Board Chairman:
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.
SUPPLEMENTAL EXIBIT A
Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF All $ 268,946,029 $ 33,829,744 $ 725,000 $ 11,318,044 $ 400,000 $ 5,131,677 $ 303,720 $ 17,878,441 $ - $ - $ 703,831 $ 14,943,753 $ 303,719 $ 15,951,303 5 Property Management, Maintenance, &
Insurance Costs (9708)
Agency-wide 35,000 N $ 35,000 35,000 $ 35,000 $ -
6 Administrative Cost Allowance (9708) Agency-wide 13,682,804 N $ 607,439 303,720 $ 303,720 303,719 $ 303,719 14 B/M/SP
Project & Other Staff/Operations, Successor
Agency (9730)
B-M-SP 308,725 N $ 33,764 16,882 $ 16,882 16,882 $ 16,882 17 B/M/SP 2006C T Bonds Debt Service (9838) B-M-SP 5,574,009 N $ 1,700,206 783,921 $ 783,921 23,797 892,488 $ 916,285 18 B/M/SP 2010 RZEDB Bonds Debt Service (9839) B-M-SP 12,522,430 N $ 878,875 321,545 $ 321,545 374,177 183,153 $ 557,330 20 B/M/SP 2006C T Bonds Covenants B-M-SP 1,283,000 N $ - $ - $ - 23 B/M/SP 2006C T Bonds Administration;
Bank & Bond Payments (9730)
B-M-SP 42,000 N $ 3,164 3,164 $ 3,164 $ -
24 B/M/SP 2010 RZEDB Bonds Administration;
Bank & Bond Payments (9730)
B-M-SP 127,500 N $ 5,314 5,314 $ 5,314 $ - 54 Central District project & other staff/operations,
successor agency (9710)
Central District 341,079 N $ 425,420 212,710 $ 212,710 212,710 $ 212,710 60 Yoshi's/Jack London Square/Security Deposit
(9714)
Central District 13,500 N $ 13,500 13,500 $ 13,500 $ - 61 Regal Cinemas/Jack London Square/Security
Deposit (9714)
Central District 25,000 N $ 25,000 25,000 $ 25,000 $ - 74 Central District Bonds (9710) Administration;
Bank & Bond Payments
Central District - Y $ - - $ - $ - 75 Uptown - Prop IC (9731) Central District 200,000 N $ 200,000 200,000 $ 200,000 $ - 84 Franklin 88 DDA (9711) Central District 65,000 N $ 65,000 65,000 $ 65,000 $ - 90 Swans DDA Central District - N $ - $ - $ -
Fund Sources
ROPS 26-27
Total
26-27 B (January - June)
26-27A
Total
Oakland Recognized Obligation Payment Schedule (ROPS 26-27) - ROPS Detail July 1, 2026 through June 30, 2027
(Report Amounts in Whole Dollars)
Item # Project Area
Total
Outstanding
Debt or
Obligation Retired
26-27A (July - December)
26-27B
Total Project Name/Debt Obligation
Fund Sources
SUPPLEMENTAL EXIBIT A
Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF All $ 268,946,029 $ 33,829,744 $ 725,000 $ 11,318,044 $ 400,000 $ 5,131,677 $ 303,720 $ 17,878,441 $ - $ - $ 703,831 $ 14,943,753 $ 303,719 $ 15,951,303 Fund Sources
ROPS 26-27
Total
26-27 B (January - June)
26-27A
Total
Oakland Recognized Obligation Payment Schedule (ROPS 26-27) - ROPS Detail July 1, 2026 through June 30, 2027
(Report Amounts in Whole Dollars)
Item # Project Area
Total
Outstanding
Debt or
Obligation Retired
26-27A (July - December)
26-27B
Total Project Name/Debt Obligation
Fund Sources
92 UCOP Administration Building Central District - N $ - $ - $ - 93 Uptown LDDA Central District - N $ - $ - $ -
94 Uptown LDDA Admin Fee (9710) Central District 1,700,000 N $ 200,000 200,000 $ 200,000 $ - 96 Victorian Row DDA Central District - N $ - $ - $ - 105 Downtown Capital Project Support Central District 5,000 N $ 5,000 5,000 $ 5,000 $ - 200 2006 Taxable Bond Debt Service
Series 2006A-T Central City East (9843)
Central City
East
36,005,137 N $ 8,150,127 3,681,808 $ 3,681,808 110,562 4,357,757 $ 4,468,319 202 CCE 2006 Taxable Bond Covenant Central City
East
5,841,000 N $ - $ - $ -
204 CCE 2006 Taxable Bond Administration;
Bank & Bond Payments (9740)
Central City
East
54,000 N $ 3,164 3,164 $ 3,164 $ -
246 Coliseum Taxable Bond Debt Service (9856) Coliseum 53,482,555 N $ 9,030,952 3,964,770 $ 3,964,770 90,886 4,975,296 $ 5,066,182 250 Coliseum Taxable Bond Administration (9750) Coliseum 60,000 N $ 3,164 3,164 $ 3,164 $ - 383 Development of low and moderate income
housing to meet replacement housing and
inclusionary/area production requirements
pursuant to Section 33413, to the extent required
by law
Low-Mod - N $ - $ - $ -
636 Excess bond proceeds obligation/Bond
Expenditure Agreement
B-M-SP 25,000 N $ 25,000 25,000 $ 25,000 $ -
637 Excess bond proceeds obligation/Bond
Expenditure Agreement
Central District 3,000,000 N $ 500,000 500,000 $ 500,000 $ - 638 Excess bond proceeds obligation/Bond
Expenditure Agreement
Central City
East
100,000 N $ 100,000 100,000 $ 100,000 $ - 639 Excess bond proceeds obligation/Bond
Expenditure Agreement
Coliseum 100,000 N $ 100,000 100,000 $ 100,000 $ -
Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF All $ 268,946,029 $ 33,829,744 $ 725,000 $ 11,318,044 $ 400,000 $ 5,131,677 $ 303,720 $ 17,878,441 $ - $ - $ 703,831 $ 14,943,753 $ 303,719 $ 15,951,303 Fund Sources
ROPS 26-27
Total
26-27 B (January - June)
26-27A
Total
Oakland Recognized Obligation Payment Schedule (ROPS 26-27) - ROPS Detail July 1, 2026 through June 30, 2027
(Report Amounts in Whole Dollars)
Item # Project Area
Total
Outstanding
Debt or
Obligation Retired
26-27A (July - December)
26-27B
Total Project Name/Debt Obligation
Fund Sources
642 B/M/SP 2010 RZEDB Bond Reserve (9839) B-M-SP 716,830 N $ - $ - $ - 644 2015 TE Bonds Debt Service (9826) Multiple 34,438,250 N $ 1,125,500 562,750 $ 562,750 25,498 537,252 $ 562,750 646 2015 Taxable Bonds Debt Service (9825) Multiple 42,069,610 N $ 4,936,347 1,127,500 1,908,046 $ 3,035,546 34,401 1,866,400 $ 1,900,801 647 2015 Bond Administration (9708) Multiple 109,500 N $ 4,675 4,675 $ 4,675 $ - 648 Bank Fees for Refinanced Bonds Administration
(9708)
Multiple 15,000 N $ 3,308 3,308 $ 3,308 $ -
650 2018 TE Bonds Debt Service (9845) Multiple 14,471,500 N $ 4,473,750 1,400,000 1,713,125 $ 3,113,125 11,211 1,349,414 $ 1,360,625 651 2018 Taxable Bonds Debt Service (9844) Multiple 42,435,600 N $ 1,171,400 585,700 $ 585,700 33,299 552,401 $ 585,700 652 2018 T & TE Bond Bonds Administration; Bank &
Bonds Payment (9708)
Multiple 97,000 N $ 4,675 4,675 $ 4,675 $ -
A B C D E G H I
Reserve Balance Other RPTTF
Bonds issued on
or before
12/31/10
Bonds issued on
or after
01/01/11
Prior ROPS RPTTF and
Reserve Balances
retained for future
period(s)
Rent,
grants,
interest, etc.
Non-Admin
and
Admin
1 Beginning Available Cash Balance (Actual 07/01/23)
2,456,384 604,641 10,526,622 1, 587,917 10, 352,810 2 Revenue/Income (Actual 06/30/24)
RPTTF amounts should tie to the ROPS 23-24 total distribution from the County Auditor-Controller
827,133 81,600 - 1, 681,213 26, 667,202
3 Expenditures for ROPS 23-24 Enforceable Obligations
(Actual 06/30/23)
510,534 - 10,526,622 1, 521,223 11, 240,988 4 Retention of Available Cash Balance (Actual 06/30/24) RPTTF amount retained should only include the amounts distributed as reserve for future period(s)
1,366,716 555,759 - - 10, 752,800
5 ROPS 23-24 RPTTF Balances Remaining
RPTTF amount should tie to the Agency's ROPS 22-23 PPA form submitted to the CAC No entry required
5,095,444
6 Ending Actual Available Cash Balance (06/30/24)
C to G = (1 + 2 - 3 - 4), H = (1 + 2 - 3 - 4 + 5)
1,406,267$ 130,482$ -$ 1,747,907$ 9,930,780$ Oakland Recognized Obligation Payment Schedule (ROPS 26-27) - Report of Cash Balances July 1, 2023 through June 30, 2024
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177 (l), 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. For tips on how to complete the Report of Cash Balances Form, see Cash Balance Tips Sheet Fund Sources
Comments
Bond Proceeds
ROPS 23-24 Cash Balances
(07/01/23 - 06/30/24)
Item # Note Description
5 6
14 Per 34171(b); This is a statutory requirement that has no agreement with specified start or termination dates. Many of these obligations are dependent on other obligations; i.e. project and administrative staff and other operating costs are needed to manage all of the Agency's obligations until they are all concluded, or property is required to be remediated and maintained until it is sold or otherwise transferred; with various terms.
17 In order to conform to the bond indenture, all of the full year of debt service is requested during the January 2nd RPTTF distribution.
Amounts not needed for the March 1st debt service payment will be held in reserve for the September 1st debt service payment. 18 Federal Recovery Zone Subsidy is not guaranteed, so RPTTF request to cover full debt service payment. In order to conform to the bond indenture, all of the full year of debt service is requested during the January 2nd RPTTF distribution. Amounts not needed for the March 1st debt service payment will be held in reserve for the September 1st debt service payment. 20 Bond Legal Requirement
23 24
54 Per 34171(b); This is a statutory requirement that has no agreement with specified start or termination dates. Many of these obligations are dependent on other obligations; i.e. project and administrative staff and other operating costs are needed to manage all of the Agency's obligations until they are all concluded, or property is required to be remediated and maintained until it is sold or otherwise transferred; with various terms.
60 Venue Security Deposit Reimbursement
61 Venue Security Deposit Reimbursement
74 Bank and Bond Administrative Fees
84 Monitoring and enforcement of developer post-construction obligations must be performed for the life of the Redevelopment Plan for the Project Area. The Agency may be required to 1) modify agreements; 2) provide evidence that there are no defaults on the project when there is refinancing; or 3) monitor profit sharing or other provisions of the agreement. In addition, several of the post- construction obligations, such as nondiscrimination provisions included in the agreements, are effective in perpetuity. Obligation amount not known.
Garage revenue used to pay HOA fees. Maintain until property is sold. 90 Monitoring and enforcement of developer post-construction obligations must be performed for the life of the Redevelopment Plan for the Project Area. The Agency may be required to 1) modify agreements; 2) provide evidence that there are no defaults on the project when there is refinancing; or 3) monitor profit sharing or other provisions of the agreement. In addition, several of the post- construction obligations, such as nondiscrimination provisions included in the agreements, are effective in perpetuity. Obligation amount not known. 92 Monitoring and enforcement of developer post-construction obligations must be performed for the life of the Redevelopment Plan for the Project Area. The Agency may be required to 1) modify agreements; 2) provide evidence that there are no defaults on the project when there is refinancing; or 3) monitor profit sharing or other provisions of the agreement. In addition, several of the post- construction obligations, such as nondiscrimination provisions included in the agreements, are effective in perpetuity. Obligation amount not known. 93 Monitoring and enforcement of developer post-construction obligations must be performed for the life of the Redevelopment Plan for the Project Area. The Agency may be required to 1) modify agreements; 2) provide evidence that there are no defaults on the project when there is refinancing; or 3) monitor profit sharing or other provisions of the agreement. In addition, several of the post- construction obligations, such as nondiscrimination provisions included in the agreements, are effective in perpetuity. Obligation amount not known. 94 Monitoring and enforcement of developer post-construction obligations must be performed for the life of the Redevelopment Plan for the Project Area. The Agency may be required to 1) modify agreements; 2) provide evidence that there are no defaults on the project when there is refinancing; or 3) monitor profit sharing or other provisions of the agreement. In addition, several of the post- construction obligations, such as nondiscrimination provisions included in the agreements, are effective in perpetuity; other source is developer fee. 96 Monitoring and enforcement of developer post-construction obligations must be performed for the life of the Redevelopment Plan for the Project Area. The Agency may be required to 1) modify agreements; 2) provide evidence that there are no defaults on the project when there is refinancing; or 3) monitor profit sharing or other provisions of the agreement. In addition, several of the post- construction obligations, such as nondiscrimination provisions included in the agreements, are effective in perpetuity. Contract date unknown; Obligation amount not known.
105 Obligation to remain until property is sold.
Oakland Recognized Obligation Payment Schedule (ROPS 26-27) - Notes July 1, 2026 through June 30, 2027
Item # Note Description
Oakland Recognized Obligation Payment Schedule (ROPS 26-27) - Notes July 1, 2026 through June 30, 2027
200 In order to conform to the bond indenture, all of the full year of debt service is requested during the January 2nd RPTTF distribution.
Amounts not needed for the March 1st debt service payment will be held in reserve for the September 1st debt service payment. 202
204
246
In order to conform to the bond indenture, all of the full year of debt service is requested during the January 2nd RPTTF distribution.
Amounts not needed for the March 1st debt service payment will be held in reserve for the September 1st debt service payment. 250
383
This is a statutory requirement that has no agreement with specified start or termination dates. Many of these obligations are dependent on other obligations; i.e. project and administrative staff and other operating costs are needed to manage all of the Agency's obligations until they are all concluded, or property is required to be remediated and maintained until it is sold or otherwise transferred; with various terms.
Retain until all Low-Mod Items are retired.
635 Future excess bond proceeds to be transferred to the City per the Bond Expenditure Agreement approved by OB and DOF and executed Nov 8, 2013.
636 Future excess bond proceeds to be transferred to the City per the Bond Expenditure Agreement approved by OB and DOF and executed Nov 8, 2013.
637 Future excess bond proceeds to be transferred to the City per the Bond Expenditure Agreement approved by OB and DOF and executed Nov 8, 2013.
638 Future excess bond proceeds to be transferred to the City per the Bond Expenditure Agreement approved by OB and DOF and executed Nov 8, 2013.
639 Future excess bond proceeds to be transferred to the City per the Bond Expenditure Agreement approved by OB and DOF and executed Nov 8, 2013.
642 Existing reserve amounts required per bond covenants. 644 2015 Bonds refund 2006 TE bonds (partial for Coliseum), plus Housing Taxable for savings. 646
647
648
649
650
651
652
EXIDBITB
FY 26-27 SUCCESSOR AGENCY ADMINISTRATIVE BUDGET
(attached)
5 Exhibit B
Actual RPTTF distributed for fiscal year 2025-26 20,882,925$ Less distributed Administrative RPTTF 2025-26 (634,946)$ RPTTF distributed for 2025-26 after adjustments 20,247,979$ 3% 607,439$
DEPARTMENT PERSONNEL ROPS 2026-27
Finance & Management Department 566,315
Subtotal Personnel 566,315$
O&M ROPS 2026-27
Accounting & Auditing Services 28,141
Internal Services & Work Orders 12,983
Subtotal O&M 41,124$
TOTAL SUCCESSOR ADMIN BUDGET 607,439$
ROPS 2026-27
SUCCESSOR AGENCY ADMINISTRATIVE BUDGET