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Los Banos successor agency adopts payment schedule for obligations tied to former redevelopment activities
Summary
The successor agency adopted Resolution No. 25 2025-1 approving the Recognized Obligation Payment Schedule (ROPS) and administrative budget for fiscal year 2025–26; staff said remaining obligations include administration, a bond tied to the community center, fiscal agent fees and lighting/landscape assessments.
The Los Banos Successor Agency approved a recognized obligation payment schedule (ROPS) and administrative budget for fiscal year 2025–26, the agency reported during the Jan. 15 meeting.
Finance consultant Brent Kuhn summarized the ROPS, saying the successor agency’s remaining obligations are limited and primarily include administrative costs, a tax-increment–related bond that financed the community center, fiscal agent fees to transmit funds to the trustee, and several grandfathered contracts for lighting and landscaping along the rail corridor. Kuhn described prior-period adjustments and cash-balance reporting that accompany the ROPS submission to the county oversight board and the California Department of Finance.
Kuhn said there are no new obligations in the schedule and that the successor agency is largely functioning as a financing vehicle to pay remaining debt and administration. The council adopted the resolution as recommended.
The mayor and staff reviewed how redevelopment-era property tax distributions (RPTTF) are now allocated: the county receives a large share and taxing agencies (including the city) receive smaller portions; the city’s share now flows to the general fund and staff said the city tries to earmark those receipts to community development where feasible.
What’s next: the adopted ROPS will be submitted to the Merced County oversight board and the California Department of Finance for review and final approval.
