Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Redevelopment Finance topic
No spam. Unsubscribe anytime.
Council approves successor-agency ROPS 25‑26 requesting ~$48M for FY25–26
Summary
City staff presented the nineteenth Recognized Obligation Payment Schedule (ROPS 25‑26) requesting about $48 million for fiscal year 2025–26; council approved the staff recommendation unanimously and noted the schedule still requires County Oversight Board and State Department of Finance review.
City Council on Jan. 13 approved the nineteenth Recognized Obligation Payment Schedule (ROPS 25‑26) and an associated admin budget that staff said requests approximately $48,000,000 for the period July 2025–June 2026.
Leonardo Alarcon, successor agency coordinator in the Economic Development Department, told the council the draft ROPS relies on multiple funding sources, including about $44 million from the Redevelopment Property Tax Trust Fund (RPTTF), roughly $1.6 million for administrative costs, and other non-RPTTF sources such as grants and parking revenues. He said approximately $38 million of the RPTTF request will cover bond debt service and that some items remain contingent on State Department of Finance review.
Alarcon stressed that, under state dissolution law, the ROPS is not final until reviewed by the County Oversight Board and the State Department of Finance; the staff packet identifies a Feb. 1, 2025 submission deadline to the DOF and an anticipated final determination in spring after DOF review. Council members asked for clarifications on remaining line items and timelines; staff said litigation on some projects affects precise timing.
Councilmember Whitburn moved to approve the staff recommendation; Councilmember Campillo seconded. The council voted unanimously 9–0 to move the ROPS forward.
Next steps: staff will present ROPS 25‑26 to the County Oversight Board on Jan. 16 and submit to the State Department of Finance by Feb. 1, 2025. Final fund availability will depend on state review.
