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C.18

COUNTYWIDE OVERSIGHT BOARD

Meeting Date:	01/28/2019
SUBJECT : Adopt Resolution 2019/41 Approving the Administrative Budget for the Fiscal Year 2019-2020 period for the Brentwood Successor Agency.
FROM:	Maureen Toms, Oversight Board Secretary

Information

Recommendation(s)

Adopt Resolution 2019/41 Approving the Administrative Budget for Fiscal Year 2019-20 period for Brentwood Successor Agency.

Background

See attached staff report.

In The Matter Of:

A RESOLUTION OF THE COUNTYWIDE OVERSIGHT BOARD APPROVING THE BRENTWOOD SUCCESSOR AGENCY ADMINISTRATIVE BUDGET FOR JULY 2019 – JUNE 2020 AND AUTHORIZING THE CITY OF BRENTWOOD DIRECTOR OF FINANCE AND INFORMATION SYSTEMS TO MAKE MINOR ADJUSTMENTS THERETO AS NECESSARY TO SECURE APPROVAL OF THE ADMINISTRATIVE BUDGET BY THE STATE DEPARTMENT OF FINANCE.

Body:

          WHEREAS, Section 34177 (l) and (m) of the Health and Safety Code require the successor agency to the former City of Brentwood Redevelopment Agency (“Successor Agency”) to submit to the State Department of Finance, the State Controller, and the Contra Costa County Auditor-Controller, by February 1, 2019, a Recognized Obligation Payment Schedule (ROPS), approved by the Countywide Oversight Board, for the period July 1, 2019 through June 30, 2020; and

          WHEREAS, the ROPS contains the enforceable obligation commitments of the Successor Agency for the July 2019 - June 2020 timeframe; and

          WHEREAS, Health and Safety Code §34177(j) requires the Countywide Oversight Board to approve an Administrative Budget for administrative costs of the Successor Agency; and

          WHEREAS, the Successor Agency's "administrative cost allowance", as defined and authorized pursuant to Health and Safety Code Section 34171(b), is a minimum of $250,000 for the July 2019 - June 2020 time period; and

          WHEREAS, the Successor Agency will report to the County Auditor-Controller that its administrative cost allowance to be paid from property taxes deposited in the Redevelopment Property Tax Trust Fund pursuant to Health and Safety Code Section 34183(a)(3) is the amount of $250,000 for the July 2019 - June 2020 time period; and

          WHEREAS, as authorized pursuant to Health and Safety Code Section 34183(a)(3), the proposed source of payment for the administrative costs is the Redevelopment Property Tax Trust Fund established and maintained by the County Auditor- Controller pursuant to Health and Safety Code Section 34170.5(b); and

          WHEREAS, the Successor Agency has arranged with the City of Brentwood to provide the staff services, office materials and equipment to administer the responsibilities of the Successor Agency.

Now, Therefore, Be It Resolved:

NOW, THEREFORE, the Countywide Oversight Board for the County of Contra Costa does hereby resolve as follows:

1. The Countywide Oversight Board hereby approves the Successor Agency Administrative Budget for July 2019 - June 2020 in the amount of $250,000 as required by Health and Safety Code §34177(j).

2. The City of Brentwood Director of Finance and Information Systems on behalf of the Successor Agency, is hereby authorized and directed to undertake actions necessary to carry out the purposes of this Resolution including, without limitation, the execution of documents and all other actions, subject to any minor conforming, technical or clarifying changes.

3. This Resolution shall take effect immediately upon its adoption.

Vote and Attest

	ATTEST:

	_____________________________
	Oversight Board Secretary

Attachments
Resolution 2019/41
Brentwood Admin Budget