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6.4.A. - Page 1 <br /> RE PO RT <br /> To the Honorable Mayor and City Council <br /> From the Cit Mana er <br /> April 9, 2012 <br /> SUBJECT <br /> Resolutions of the Successor Agency adopting an Amended Enforceable Obligations <br /> Payment Schedule and adopting an Amended Recognized Obligation Payment <br /> Schedule <br /> RECOMMENDATION <br /> That the City of Redwood City as the Successor Agency adopt a resolution approving <br /> the Amended Recognized Obligation Payment Schedule - January 1, 2012 through <br /> June 30, 2012. (Attachment 1) <br /> That the City of Redwood City as the Successor Agency adopt a resolution approving <br /> the Amended Enforceable Obligation Payment Schedule - August 2011 through June <br /> 30, 2012. (Attachment 2) <br /> BACKGROUND <br /> On February 27, 2012, the City of Redwood City, as the Successor Agency to the <br /> dissolved Redwood City Redevelopment Agency, adopted : 1) Draft Initial Recognized <br /> Obligation Payment Schedule (ROPS) for obligations during the January 1, 2012 <br /> through June 30, 2012 period and 2) Amended Enforceable Obligation Payment <br /> Schedule (EOPS) for obligations during the August 2011 through June 30, 2012 period. <br /> The ROPS and EOPS list the enforceable obligations, administrative budget, payee, <br /> and payment by month for items such as debt services, loans, agreements, and <br /> purchase orders of the former Redevelopment Agency of Redwood City. <br /> ANALYSIS <br /> Staff proposes to amend both the ROPS and EOPS to include additional items that <br /> have recently been identified, to make reclassifications to clarify certain line items, and <br /> to correct minor errors. The proposed changes to both payment schedules were <br /> provided in mid-March 2012 to the auditors retained by the County of San Mateo. The <br /> Successor Agency will be receiving a certified ROPS by the County of San Mateo in <br /> early April. Thereafter, the Oversight Board will meet to approve the ROPS in final form <br /> by the April 15, 2012 deadline. By the same date, the ROPS must be submitted to the <br /> State Department of Finance, State Controller, and the County Auditor-Controller. By <br /> May 1, 2012, the ROPS replaces the Enforceable Obligation Payment Schedule <br /> (EOPS) under which the Successor Agency has been operating. Only those payments <br /> listed in the approved ROPS can be made by the Successor Agency. The Successor <br />