CITY OF POMONA
SUCCESSOR AGENCY
December 18, 2023
To: Honorable Mayor and Members of the City Council, Sitting as the Successor Agency to the Redevelopment Agency From: Anita Gutierrez, Acting City Manager
Submitted By: Andrew Mowbray, Finance Director/City Treasurer SUBJECT: A RESOLUTION APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 24-25) FOR THE PERIOD OF JULY 1, 2024 THROUGH JUNE 30, 2025, APPROVING THE ADMINISTRATIVE BUDGET FOR THE SAME PERIOD, AND AUTHORIZING THE TRANSMITTAL OF THE ROPS AND ADMINISTRATIVE BUDGET TO THE OVERSIGHT BOARD FOR APPROVAL RECOMMENDATION:
It is recommended that the Successor Agency to the former Redevelopment Agency adopt:
SA RESOLUTION NO. 2023-02 – A RESOLUTION OF THE CITY COUNCIL, SITTING AS THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF POMONA, CALIFORNIA APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 24-25) FOR THE PERIOD OF JULY 1, 2024 THROUGH JUNE 30, 2025, APPROVING THE ADMINISTRATIVE BUDGET FOR THE SAME PERIOD, AND AUTHORIZING THE TRANSMITTAL OF THE ROPS AND ADMINISTRATIVE BUDGET TO THE OVERSIGHT BOARD FOR APPROVAL EXECUTIVE SUMMARY:
In order to carry out the mandates of adopting a new annual ROPS, the ROPS for the period from July 1, 2024 to June 30, 2025, the associated Administrative Budget, and a resolution have been prepared for Successor Agency consideration and approval. The proposed ROPS 24-25 and the Administrative Budget are similar to the previous ROPS. In an effort to have annual reporting of ROPS, pursuant to HSC section 34177 (o) (1), commencing with the ROPS covering the period from July 1, 2016 to June 30, 2017 and thereafter, agencies shall submit an Oversight Board approved annual ROPS to the Department of Finance and the County Auditor-Controller’s office by February 1. Department of Finance will make its determination by April 15. The ROPS detail information is recorded on the format distributed by the Department of Finance.
FISCAL IMPACT:
Approving the July 1, 2024 to June 30, 2025 ROPS 24-25 and the Administrative Budget will ensure the financial obligations of the former Redevelopment Agency are met for the fiscal year 2024-25 (Fund 315). The Administrative budget is $277,039 to be funded with Redevelopment Property Tax Trust Fund (“RPTTF”) and the Non-Admin Enforceable Obligations totals $12,461,414 is also to be funded by “RPTTF”.
PREVIOUS RELATED ACTION:
• On September 17, 2015, the Successor Agency adopted Resolution No. SA2015-08 approving ROPS 15-16B and Administrative Budget for the period of January 1, 2016 to June 30, 2016 • On January 25, 2016, the Successor Agency adopted Resolution No. SA2016-01 approving ROPS 16-17 and Administrative Budget for the period of July 1, 2016 to June 30, 2017 • On January 26, 2017, the Successor Agency adopted Resolution No. SA2017-01 approving ROPS 17-18 and Administrative Budget for the period of July 1, 2017 to June 30, 2019 • On January 22, 2018, the Successor Agency adopted Resolution No. SA2018-01 approving ROPS 18-19 and Administrative Budget for the period of July 1, 2018 to June 30, 2019 • On January 28, 2019, the Successor Agency adopted Resolution No. SA2019-01 approving ROPS 19-20 and Administrative Budget for the period of July 1, 2019 to June 30, 2020. • On January 6, 2020, the Successor Agency adopted Resolution No. SA2020-01 approving ROPS 20-21 and Administrative Budget for the period of July 1, 2020 to June 30, 2021 • On December 21, 2020, the Successor Agency adopted Resolution No. SA2020-03 approving ROPS 21-22 and Administrative Budget for the period of July 1, 2021 to June 30, 2022 • On December 20, 2021, the Successor Agency adopted Resolution No. SA2021-01 approving ROPS 22-23 and Administrative Budget for the period of July 1, 2022 to June 30, 2023 • On December 19, 2022, the Successor Agency adopted Resolution No. SA2022-02 approving ROPS 23-24 and Administrative Budget for the period of July 1, 2023 to June 30, 2024 DISCUSSION:
Pursuant to AB X1 26, successor agencies to the former redevelopment agencies are required to adopt by resolution a ROPS that covers the payment obligations of the former redevelopment agency for a twelve month period.
On June 27, 2012, the Legislature passed and the Governor signed AB 1484, making substantive amendments to the Dissolution Act (AB X1 26), including new deadlines for completion of ROPS and significant financial penalties to the hosted jurisdiction (the City) of the Successor Agency if the deadlines were not met. On September 22, 2015, the Governor signed SB 107 which revised the timeline for the preparation of the ROPS from a bi-annual process to an annual process for the fiscal period beginning July 1, 2016. SB 107 requires that ROPS 16-17 and the associated Administrative Budget be approved by the Oversight Board and sent to the State Department of Finance no later than February 1, 2016 and every February 1 thereafter.
In order to meet the deadline for having the ROPS 24-25 approved by the Oversight Board and submitted to the Department of Finance by the February 1, 2024 deadline, the Successor Agency has adopted a Resolution approving ROPS 24-25, the Administrative Budget and authorize the transmittal to the Oversight Board for its review and approval at its regular meeting on January 8, 2024.
Resolution SA 2023-02 (Attachment 1) includes ROPS 24-25 Schedule (Attachment 2) which illustrates that the ROPS 24-25 has been prepared by Pomona’s Finance Department staff to incorporate annual reporting of obligations distributed by the Department of Finance.
The Administrative Budget (Attachment 3) illustrates the Administrative Budget for the Successor Agency. The Administrative and Direct Project Charge Budget has been prepared in accordance to the mandates of AB X1 26 and AB 1484. The budget includes limited funding for the Successor Agency to carry out the dissolution of the former Redevelopment Agency as well as direct project charges.
Prepared by:
_____________________________
Erica Carrillo
Senior Accountant
ATTACHMENT(S):
Attachment No. 1 – SA Resolution No. 2023-02
Attachment No. 2 – ROPS 24-25 Schedule
Attachment No. 3 – Administrative Budget
Resolution No. SA 2023-02 ROPS 24-25 and Administrative Budget