Paradise Successor Agency approves ROPS for July 2025–June 2026, requests $62,000 for trustee and administrative costs

The Paradise Successor Agency on an unanimous vote approved its Recognized Obligation Payment Schedule (ROPS) for the period July 1, 2025, through June 30, 2026, and directed staff to forward the schedule to Butte County for submission to the California Department of Finance.

Agency staff member Aaron Marquez told directors the annual ROPS is required for repayment of the agency’s bonds and that the schedule being approved will be passed to Butte County for its January board meeting. "Due to the Camp Fire, the tax increments that we would normally get aren't sufficient to be able to repay the bonds," Marquez said, adding, "We are actually requesting 62,000 to help pay for trustee fees and administrative costs."

The agency recorded that if any tax increment funds are received, Computershare — identified in the meeting packet as the bond trustee — will apply receipts first to the 2009 bonds; the agency said the 2016 bonds will remain in default. Staff said there is no projection from Butte County or the Department of Finance for when the agency would return to regular repayments.

Director Bolan moved to approve the ROPS; Director Cullerton seconded. Directors cast their votes by roll call and the motion passed. The agenda item and staff remarks made clear this vote authorizes submission of the ROPS to Butte County and asks the county to forward it to the Department of Finance; it does not by itself change the priority of bond claims or create new funding beyond the requested $62,000 for trustee and administrative expenses.

The meeting packet also included correspondence identified as a notice of default; staff said that correspondence was provided for information only and required no agency action.

Meeting minutes show the agency’s action was to approve the ROPS for the July 2025–June 2026 period and to transmit it to Butte County and the Department of Finance; the agency did not adopt a timeline for exiting bond-default status or commit additional funds beyond approving the schedule and the noted $62,000 request.