Agenda Item   

AGENDA STAFF REPORT

 

                                                                                                                        ASR Control  23-001094

 

MEETING DATE:

01/09/24

legal entity taking action:

Successor Agency to the Orange County Development Agency

board of supervisors district(s):

All Districts

SUBMITTING Agency/Department:

OC Community Resources   (Approved)

Department contact person(s):

Dylan Wright (714) 480-2788 

 

 

Joanne Veedor (714) 480-2875

 

 

Subject:  Review and Approve the County's Annual Recognized Obligation Payment Schedule

 

     ceo CONCUR

County Counsel Review

Clerk of the Board

                   Concur

Approved Resolution to Form

Consent Calendar

 

 

3 Votes Board Majority

 

 

 

    Budgeted: N/A

Current Year Cost:    N/A

Annual Cost:               See Financial Impact Section

 

 

 

    Staffing Impact:

No

# of Positions:            

Sole Source:                N/A

    Current Fiscal Year Revenue: N/A

   Funding Source:      Other: 100% (Successor Agency Funds)

County Audit in last 3 years: No

   Levine Act Review Completed: N/A

 

    Prior Board Action:                  1/10/2023 #4

 

RECOMMENDED ACTION(S):

 

 

1.

Approve the Recognized Obligation Payment Schedule for the period of July 1, 2024, through June 30, 2025.

 

2.

Adopt a Resolution approving the Recognized Obligation Payment Schedule for the period of July 1, 2024, through June 30, 2025.

 

3.

Direct staff to submit the Recognized Obligation Payment Schedule to the Countywide Oversight Board.

 

4.

Direct staff to notify the Board of Supervisors of any changes made to the Recognized Obligation Payment Schedule by the County Auditor-Controller, Countywide Oversight Board, the California Department of Finance and/or the California State Controller's Office.

 

 

 

 

SUMMARY:

 

Approval of the Recognized Obligation Payment Schedule related to the financial obligations of the former Orange County Development Agency and adoption of the Resolution will allow for review by the Countywide Oversight Board and submittal of the Schedule to the California Department of Finance and the California State Controller's Office by February 1, 2024, in compliance with statutory requirements.

 

 

BACKGROUND INFORMATION:

 

State law requires successor agencies to prepare and submit a Recognized Obligation Payment Schedule (ROPS) that identifies the known financial obligations of the former redevelopment agency prior to the distribution of property taxes. The attached ROPS is being presented to the Board of Supervisors (Board) for approval in regard to those financial obligations of the former Orange County Development Agency (which remain through June 30, 2025), pending final approval by the California Department of Finance and California State Controller's Office. The financial obligations listed on the ROPS (Attachment A) are consistent with the ROPS approved by the Board on January 10, 2023.

 

Pursuant to Health and Safety Code Section 34177.7(o)(1), successor agencies are required to submit their draft ROPS for review and approval by their respective oversight board, prior to submission to the California Department of Finance. The Countywide Oversight Board is scheduled to review the attached ROPS on January 23, 2024, following Board approval. If approved, staff will submit the document to the California Department of Finance and the California State Controller's Office on or before February 1, 2024, in conformance with state law.

 

Compliance with CEQA: This action is not a project within the meaning of CEQA Guidelines Section 15378 and is therefore not subject to CEQA, since it does not have the potential for resulting in either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment. The approval of this agenda item does not commit the County to a definite course of action in regard to a project since it involves the adoption and submittal of financial documents required per state law. This proposed activity is therefore not subject to CEQA. Any future action connected to this approval that constitutes a project will be reviewed for compliance with CEQA.

 

 

 

FINANCIAL IMPACT:

 

The annual cost is to be determined by the Countywide Oversight Board, the California Department of Finance and the California State Controller's Office. All costs will be included in the County's FY 2024-25 budget process.

 

As in past years, there are potential adjustments to financial liabilities for the County and/or Successor Agency based on the interpretation and implementation of Assembly Bill 1X 26 by the California Department of Finance and the California State Controller's Office. OC Community Resources will notify the Board of any changes made to the ROPS by the County Auditor-Controller, Countywide Oversight Board, the California Department of Finance and/or the California State Controller's Office.

 

Additionally, should the County fail to submit the ROPS by the state mandated deadline of February 1, 2024, it would be subject to a civil penalty equal to $10,000 per day for every day the ROPS is late.

 

 

STAFFING IMPACT:

 

N/A

 

 

ATTACHMENT(S):

 

Attachment A - Recognized Obligation Payment Schedule
Attachment B - Resolution of the Board of Supervisors
Attachment C - Assembly Bill 1X 26
Attachment D - Health and Safety Code Section 34177