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| C.12 |
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| COUNTYWIDE OVERSIGHT BOARD |
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| Information |
| Recommendation(s) |
| Adopt Resolution 2019/11 approving the recognized obligation payment schedule for July 1, 2019 - June 30, 2020 (ROPS 19 – 20) for Pleasant Hill Successor Agency. |
| Background |
| See attached staff report. |
| In The Matter Of: |
A RESOLUTION OF THE COUNTYWIDE OVERSIGHT BOARD OF CONTRA COSTA COUNTY
APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE OF THE CITY OF PLEASANT HILL REDEVELOPMENT SUCCESSOR AGENCY FOR THE PERIOD JULY 1, 2019 THROUGH JUNE 30, 2020
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| Body: |
WHEREAS, the Contra Costa County Consolidated Oversight Board ("Oversight Board") has been established to direct the Successor Agency to the Pleasant Hill Redevelopment Agency (“Successor Agency”) to take certain actions to wind down the affairs of the Redevelopment Agency in accordance with the Dissolution Act (enacted by Assembly Bills 26, 471 and 1484 and Senate Bill 107, as codified in the California Health and Safety Code); and
WHEREAS, Section 34179 of the Dissolution Act provides that the Oversight Board has fiduciary responsibilities to holders of enforceable obligations and the taxing entities that benefit from distributions of property tax and other revenues pursuant to Section 34188 of Part 1.85 of the Dissolution Act; and
WHEREAS, Section 34177(l)(2) of the State Health and Safety Code (HSC) requires the Successor Agency to the Pleasant Hill Redevelopment Agency (“Successor Agency”) to submit to the Oversight Board for the Successor Agency to the Pleasant Hill Redevelopment Agency (“Board”) for approval a Recognized Obligation Payment Schedule (“ROPS”); and
WHEREAS, Section 34177(l)(2) also requires that the Successor Agency submit, at the same time as to the Board, a copy of the ROPS to the County Administrative Officer (“CAO”), the Contra Costa County Auditor-Controller (“CAC”), and the State Department of Finance (“DOF”); and
WHEREAS, in order for the ROPS to be deemed valid, and therefore eligible for payment, it must be approved by the Board and a copy of the approved ROPS must be submitted to the CAC, the State Controller’s Office, and DOF, and posted on the Successor Agency’s website; and
WHEREAS, Successor Agency staff has prepared the attached ROPS 19-20 for the period of July 1, 2019 through June 30, 2020 (Exhibit “A”) and submitted it to the Board for review and approval, and at the same time has provided a copy of the ROPS to the CAO, the CAC, and the DOF.
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| Now, Therefore, Be It Resolved: |
NOW, THEREFORE, the Countywide Oversight Board for the County of Contra Costa does hereby resolve as follows:
1. The ROPS for July 1, 2019 through June 30, 2020, in the form attached to this resolution as Exhibit “A” and incorporated herein by reference, is hereby approved.
2. The staff of the Successor Agency is hereby directed to submit the ROPS 19-20 to the CAC, the State Controller’s Office, and DOF, post it on the Successor Agency’s website in accordance with HSC Section 34177(l)(2)(C), and to cooperate with DOF to the extent necessary to obtain DOF’s acceptance of the ROPS, including, if necessary, making modifications to the ROPS determined by the Executive Director of the Redevelopment Successor Agency to be reasonable and financially feasible to meet its legally required financial obligations.
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| Vote and Attest |
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ATTEST: |
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Oversight Board Secretary |
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