title
Consider adopting a resolution approving the Last and Final Recognized Obligation Payment Schedule (ROPS) for the Dixon Successor Agency for the period from July 1, 2021 through June 30, 2025
body
Published Notice Required? Yes ___ No _X _
Public Hearing Required? Yes ___ No _X _
RECOMMENDATION:
It is recommended that the Solano Consolidated Oversight Board (SCOB) adopt a resolution approving the Last and Final Recognized Obligation Payment Schedule (ROPS) for the Dixon Successor Agency for the period from July 1, 2021 through June 30, 2025.
DISCUSSION:
In 2011, the Governor signed into law AB1X 26 (the "Dissolution Act") which immediately suspended most activities of Redevelopment Agencies prior to their elimination effective October 1, 2011. All agencies were subsequently dissolved as of February 1, 2012, and a Successor Agency was designated to complete the work of the Agency and satisfy the outstanding financial obligations.
Pursuant to HSC Section 34191.6(a), Successor Agencies that have received a Finding of Completion may file a Last and Final ROPS when the following conditions are met: (1) the remaining debt is limited to administrative costs and payments pursuant to enforceable obligations with defined payment schedules; (2) all remaining obligations have been previously listed on the ROPS; and (3) the Successor Agency is not party to outstanding or unresolved litigation. The Dixon Successor Agency received a Finding of Completion April 26, 2013 (Attachment A). The Dixon Successor Agency has met the three conditions in order to file a Last and Final ROPS. The Last and Final ROPS will streamline the process for the Dixon Successor Agency as they will not have to come before the SCOB annually to have the ROPS approved.
The SCOB is being asked to approve the Last and Final ROPS which covers the four-year period from July 1, 2021 to June 30, 2025 (Attachment B) for the Dixon Successor Agency. Total obligations are $1,036,5...
Click here for full text