(1) Adoption of a Resolution Approving the Recognized Obligation Payment Schedule (ROPS) from July 1 2014 Through December 31 2014; (2) Adoption of a Resolution Approving the Successor Agency Administrative Budget from July 1 2014 Through December 31 2014; and (3) Authorization to the Executive Director to Make Such Payments on Behalf of the Successor Agency. Item Number: C 2 Meeting Date: 02/10/2014 SUCCESSOR AGENCY TO THE CULVER CITY REDEVELOPMENT AGENCY AGENDA ITEM: (1) Adoption of a Resolution Approving the Recognized Obligation Payment Schedule (ROPS) from July 1 2014 Through December 31 2014; (2) Adoption of a Resolution Approving the Successor Agency Administrative Budget from July 1 2014 Through December 31 2014; and (3) Authorization to the Executive Director to Make Such Payments on Behalf of the Successor Agency. Contact Person/Dept.: Jeff Muir Fiscal Impact: Yes X No Public Hearing: Department Approval: Jeff Muir (02/03/14) Chief Financial Officer Approval: Jeff Muir (02/04/14) Attachments: X Successor Agency General Counsel Approval: Carol Schwab (by H. Baker) (02/03/14) Executive Director Approval: John M. Nachbar (02/04/14) Phone Number: (310) 253 5865 Action Item: City of Culver City California Agenda Item Report RECOMMENDATION: Staff recommends the Successor Agency Board (1) adopt a resolution approving the Recognized Obligation Payment Schedule (ROPS) for the period of July 1 2014 through December 31 2014; (2) adopt a resolution approving the Successor Agency Administrative Budget from July 1 2014 through December 31 2014; and (3) authorize the Executive Director to make such payments on behalf of the Successor Agency. BACKGROUND / DISCUSSION: Pursuant to AB X1 26 the Successor Agency must prepare a ROPS and administrative budget for each six month fiscal period (commencing each January 1 and July 1) listing the payments to be made by the Successor Agency during such period. The ROPS must be submitted to the Oversight Board for review and approval....
Click here for full text