CC - Item 5L - ROPS Submittal - July 2022 Through June 2023ROSEMEAD SUCCESSOR
AGENCY BOARD
TO:
S
THE HONORABLE CHAIR AND BOARD MEMBERS
FROM:
GLORIA MOLLEDA, EXECUTIVE DIRECTOR'
o
DATE: DECEMBER 14, 2021
SUBJECT: ROPS SUBMITTAL — JULY 2022 THROUGH JUNE 2023
SUMMARY
The Department of Finance (DOF) requires the Recognized Obligation Payment Schedule (ROPS)
for the period July 1, 2022, through June 30, 2023, be submitted to the DOF by February 1, 2022.
Prior to that, the ROPS must be reviewed and approved by the Los Angeles County Consolidated
Oversight Board. The deadline to submit the ROPS to the Oversight Board is December 20, 2021.
STAFF RECOMMENDATION
That the Rosemead Successor Agency Board approve Resolution 2021-13 SA, approving the
ROPS for the period of July 1, 2022 through June 30, 2023 and, further, directing that staff submit
the ROPS to the Los Angeles County Consolidated Oversight Board.
ANALYSIS
The following worksheets are included as part of the ROPS 22-23:
1. The "Summary" worksheet summarizes the amounts on both the ROPS Detail report and
the Report of Cash Balances.
2. The "ROPS Detail" report reflects the ROPS period of FY 22-23 A and B (July 1, 2022
through June 30, 2023). Items 22-24 and items 25-27 have been consolidated into items 24
and 27, respectively. Item 34 is used to consolidate all administrative costs into one line.
Item 35 is used to represent the 2016 Subordinate Tax Allocation Refunding Bonds.
3. The "Report of Cash Balances" includes cash balance information for ROPS 19-20.
The Successor Agency is also required to produce an annual Administrative Budget, and the FY
22-23 Budget is attached to this report.
AGENDA ITEM 5.L
Rosemead Successor Agency Board
December 14, 2021
Page 2 of 2
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process in accordance with the
Brown Act.
Submitted by:
Paula Chamberlain, Finance Director
Attachment A: Resolution No. 2021-13 SA
Attachment B: ROPS 22-23
Attachment C: FY 22-23 Administrative Budget
Attachment A
Ordinance No. 2021-13 SA
Attachment A
RESOLUTION NO. 2021-13 SA
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE ROSEMEAD
COMMUNITY DEVELOPMENT COMMISSION APPROVING THE
RECOGNIZED OBLIGATION PAYMENT SCHEDULES FOR THE
PERIOD OF JULY 1, 2022, THROUGH JUNE 30, 2023
WHEREAS, pursuant to California Health and Safety Code Section 34179 (q),
commencing on and after July 1, 2018, the County of Los Angeles shall have five consolidated
oversight boards encompassing five supervisorial districts;
WHEREAS, the First Supervisorial District Consolidated Oversight Board (Oversight
Board) has jurisdiction over the Successor Agency to the Former Redevelopment Agency to the
City of Rosemead;
WHEREAS, Section 34177 requires each Successor Agency to prepare a draft Recognized
Obligation Payment Schedule (ROPS) and section 34180 requires the First Supervisorial District
Consolidated Oversight Board to approve same;
WHEREAS, Section 34177 provides that each ROPS shall be forward looking to the next
full year;
' WHEREAS, Section 34177 requires that the ROPS be transmitted to the County Auditor -
Controller, the State Controller and the State Department of Finance;
WHEREAS, notwithstanding the sequencing contemplated in Section 34177, the
Department of Finance (DOF) is requesting the ROPS be considered by the Oversight Board and
transmitted to the DOF no later than February 1, 2022;
WHEREAS, the County will not make any payments of property taxes to the Successor
Agency for use in payment of the obligations listed on the ROPS until the ROPS has been approved
by the Oversight Board. Any delay in payment could impair the Successor Agency's ability to
make payments for the enforceable obligations; and
WHEREAS, the Successor Agency prepared draft ROPS for the period July 1, 2022,
through June 30, 2023, is attached hereto.
NOW THEREFORE, THE SUCCESSOR AGENCY TO THE ROSEMEAD
COMMUNITY DEVELOPMENT COMMISSION HEREBY RESOLVES:
1. The ROPS for the period July 1, 2022, through June 30, 2023, attached hereto is
hereby approved.
2. Successor Agency staff is directed to provide to the First Supervisorial District
Consolidated Oversight Board (a) a copy of this Resolution along with (b) the
Successor Agency approved ROPS and (c) a Resolution for the Oversight Board to
approve.
PASSED, APPROVED AND ADOPTED this 14th day of December 2021.
Polly Low, Chairperson
ATTEST:
Ericka Hernandez
Successor Agency Secretary
APPROVED AS TO FORM:
Rachel Richman
Successor Agency Attorney
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES) §
CITY OF ROSEMEAD )
I, Ericka Hernandez, Successor Agency Clerk to the Rosemead Community Development
Commission of the City of Rosemead, California, do hereby certify that the foregoing Successor
Agency Resolution, No. 2021-13 SA, was duly adopted by the Board of the Successor Agency, at
a special meeting thereof held on the 14th day of December, 2021, by the following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
Ericka Hernandez, Successor Agency Clerk
Attachment B
ROPS 2022-2023
Recognized Obligation Payment Schedule (ROPS 22-23) - Summary
Filed for the July 1, 2022 through June 30, 2023 Period
Successor Agency: Rosemead
County: Los Angeles
Current Period Requested Funding for Enforceable 22-23A Total 22-23B Total ROPS 22-23
Obligations (ROPS Detail) (July - (Janu-
December) June)ary Total
A Enforceable Obligations Funded as Follows (B+C+D) $ $ $
B Bond Proceeds
C Reserve Balance
D Other Funds
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) $ 3,325,021 $ 731,769 $ 4,056,790
G Administrative RPTTF
H Current Period Enforceable Obligations (A+E)
Certification of Oversight Board Chairman:
Pursuant to Section 34177 (o) of the Health and Safety
code, I hereby certify that the above is a true and
accurate Recognized Obligation Payment Schedule for
the above named successor agency.
/s/
3,200,021 606,769 3,806,790
125,000 125,000 250,000
$ 3,325,021 $ 731,769 $ 4,056,790
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