TO: Honorable Mayor and Members of the City Council
THRU: Tom Kisela, City Manager
FROM: Trang Nguyen, Finance Director
1. SUBJECT
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Recognized Obligation Payment Schedule for the fiscal period covering July 1, 2025, through June 30, 2026. Resolution No. SAORA-038.
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2. SUMMARY
Approve the Recognized Obligation Payment Schedule (ROPS) 25-65 and related Administrative Budgets for the period covering July 1, 2025 through June 30, 2026, and authorize the transmittal of ROPS 25-26 to the Orange Countywide Oversight Board.
3. RECOMMENDED ACTION
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1. Adopt Resolution No. SAORA-038, A Resolution of the Governing Board of the Successor Agency to the Orange Redevelopment Agency approving a Recognized Obligation Payment Schedule for the fiscal period covering July 1, 2025 through June 30, 2026, pursuant to Health and Safety Code Section 34177, and taking certain related actions.
2. Direct staff to transmit ROPS 25-26 and related Administrative Budgets to the Orange Countywide Oversight Board of the Successor Agency to the Orange Redevelopment Agency.
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4. FISCAL IMPACT
The preparation and submittal of the ROPS 25-26 allows the Successor Agency to pay its enforceable obligations for the period from July 1, 2025 through June 30, 2026. Items listed on the ROPS 25-26 will be included in the City's FY 25-26 Annual Budget. The ROPS 25-26 shall become operative after it is approved by the Orange Countywide Oversight Board and the State of California Department of Finance.
5. STRATEGIC PLAN GOALS
Goal 2: Be a fiscally healthy community
a: Expend fiscal resources responsibly.
6. DISCUSSION AND BACKGROUND
With the dissolution of the Orange Redevelopment Agency (Agency) effective January 31, 2012, the City Council adopted Resolution No. 10625 authorizing the City to become the Successor Agency for the former redevelopment agency and enabling the City to fulfil the continued expenses of the Agency. A significant majority of Recognized Ob...
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