Paradise successor agency adopts budget to prioritize bond payments, staff says

The Town of Paradise Successor Agency voted unanimously to adopt a fiscal‑year 2026–27 budget that directs available revenue to make payments on defaulted redevelopment bonds, a staff presenter said.

Amy, a presenter addressing the directors, told the board the resolution authorizes applying allotted successor‑agency revenue to bond payments but does not provide authority to pay outside parties. "We can't pay trustees. We can't pay consultants. It's literally just the 1st bond, and that's it," Amy said, adding that "whatever we get, we pay." The board received no public comments on the item.

The action followed the agency's routine approval of prior meeting minutes. A motion to approve the minutes was moved and seconded and passed on a recorded unanimous vote. Later, directors voted to adopt the budget resolution after staff presentation and brief discussion; the transcript records each director answering "Aye." The clerk recorded the motion as passed.

The presenter described the budget as narrowly focused on available revenue streams and the priority of meeting debt‑service obligations for the successor agency's defaulted bonds. She said those revenues will be used to make bond payments "the best we can with the allotted revenue" and emphasized the limit on what the budget may pay. The transcript shows the presenter stated the budget will not cover trustee or consultant fees.

The meeting record in the transcript identifies the agenda item as consideration of a resolution (numbering in the transcript is garbled). The agency did not identify any additional allocations or new contracts tied to this budget in the recorded discussion.

The board had no public‑comment cards for the meeting. Following the vote, the transcript ends with brief closing remarks; no subsequent items or scheduling actions were recorded in the provided text.