HomeMy WebLinkAboutSA 04 DELEGATION OF AUTHORITY~.
MEETING DATE
TO
FROM:
MARCH 20, 2012
JEFFREY C. PARKER, CITY MANAGER
CITY MANAGER'S OFFICE
Agenda Item SA 4
Reviewed:
City Manager
Finance Director NSA
SUBJECT: DELEGATION OF AUTHORITY FOR MODIFICATIONS TO THE
ENFORCEABLE OBLIGATIONS PAYMENT SCHEDULE OR
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
SUMMARY
Approval is requested to authorize certain officials of the Successor Agency to the
Tustin Community Redevelopment Agency ("City Successor Agency") to make any
augmentation, modification, additions or revisions as may be necessary to any
Enforceable Obligations Schedule (FOPS) or Recognized Obligation Payment Schedule
(BOPS} approved by the City Successor Agency and Oversight Board.
RECOMMENDATION
Approve City Manager and/or Director of Finance as delegated officials of the City
Successor Agency as authorized to make any augmentation, modification, additions, or
revisions as may be necessary to the FOPS or ROPS based on review by the California
Department of Finance ("DaF") or the County of Orange's selected independent auditor
in the case of the ROPS.
FISCAL IMPACT
No direct fiscal impact. However, decisions of the DoF and/or the County's selected
independent auditor can affect the amount of property tax revenue to be released by the
County Auditor-Controller related to each former redevelopment project area to be
received by the Successor Agency.
BACKGROUND
The Oversight Board of the City Successor Agency, at a special meeting on March 13,
2012 reviewed and approved:
AGENDA REPORT
The Third Amended Enforceable Obligation Schedule (FOPS) previously
approved by the Successor Agency at its regular meeting of February 21, 2012;
Agenda Report
March 20, 2012
Page 2
2. The Initial Recognized Obligation Payment Schedule CROPS), subject to
subsequent review and certification by the independent auditor, previously
approved by the Successor Agency at its regular meeting of February 21, 2012.
In their actions on the above items, the Oversight Board also authorized that the City
Manager and/or Finance Director could make any augmentation, modification,
additions, or revisions as may be necessary to the FOPS or ROPS based on review by
the DoF or the independent auditor in the case of the ROPS.
Christine Shingleton
Assistant Executive D' ctor
Successor Agency to the Tustin
Community Redevelopment Agency