Agenda Item
ASR
Control 23-001094 |
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MEETING
DATE: |
01/09/24 |
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legal entity taking action: |
Successor
Agency to the Orange County Development Agency |
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board of supervisors district(s): |
All
Districts |
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SUBMITTING Agency/Department: |
OC
Community Resources (Approved) |
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Department contact person(s): |
Dylan
Wright (714) 480-2788 |
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Joanne
Veedor (714) 480-2875 |
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Subject: Review and Approve the County's
Annual Recognized Obligation Payment Schedule
ceo CONCUR |
County Counsel Review |
Clerk of the Board |
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Concur |
Approved
Resolution to Form |
Consent
Calendar |
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3
Votes Board Majority |
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Budgeted: N/A |
Current Year
Cost: N/A |
Annual Cost: See Financial Impact Section |
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Staffing Impact: |
No |
# of Positions: |
Sole Source: N/A |
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Current Fiscal Year Revenue: N/A
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Prior Board Action: 1/10/2023 #4 |
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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