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Draft ROPS ' Page 2 <br />through December 31, 2012. Funding for the obligations will come first, from bond funds and <br />cash on hand and secondly, from the Redevelopment Property Tax Trust Fund ( RPTTF); which <br />is administered by the County Auditor - Controller. Payments from the RPTTF are to be made by <br />the County Auditor - Controller by June 1, 2012, to cover the July to December period. Of the <br />funds to be distributed, the Agency is allowed to receive an allocation of 5% to fund <br />administrative costs. <br />Once the two ROPS are approved by the City as Successor Agency, they will be submitted to <br />the Oversight Board for approval. Once approved by the Oversight Board, the finalized <br />schedules will be submitted to the State Department of Finance (DOF) and the County Auditor - <br />Controller. The County Auditor - Controller has requested that the ROPS be submitted by April <br />15, 2012. The next scheduled meeting of the Oversight Board is March 30, 2012. <br />FISCAL IMPACT <br />There is no fiscal iml <br />Prepared by: <br />Certified as to <br />availability of funds: <br />Approved by: <br />Approved as to form <br />Dact to the City's General Fund. <br />Emilio Ramirez, Development Director <br />Brent A. Mason, Finance Director /Treasurer <br />Deanna Lorson, Assistant City Manager <br />for Scott C. Barber, City Manager <br />Gregory P. Priamos, City Attorney <br />Attachments: Exhibit A — Revised ROPS for January — June 2012 <br />Exhibit B - Draft ROPS for July — December 2012 <br />27 -2 <br />