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City to seek roughly $8.4 million in next ROPS drawdown after court wins recover redevelopment funds
Summary
City staff presented the successor agency ROPS for July 1, 2025–June 30, 2026 and explained litigation wins that recovered about $38 million from the state for previously denied redevelopment loans; council approved the ROPS and administrative budget and will submit to the county oversight board and Department of Finance for final review.
Interim Chief Financial Officer David Cain outlined the successor agency's Reorganized Recognized Obligation Payment Schedule (ROPS) for fiscal year 2025–26 and described recent litigation recoveries related to dissolved redevelopment agency loans.
City Attorney Michael E. Gates summarized litigation the city pursued to recover previously denied redevelopment reimbursements, saying Huntington Beach prevailed on two major loans. The court awarded about $5.2 million on the Emerald Cove loan (with interest to about $6.8 million) and $22.5…
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