01-11-2022 CC RPT 22 - Laserfiche WebLink

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Annual ROPS 2022-2023 • Page 2 also be submitted to the County Administrative Officer, the County Auditor -Controller, and the DOF for review at the same time that the Successor Agency submits it to the Countywide Oversight Board for approval. Funding for obligations on the ROPS 22-23 will come first from the RPTTF, which is administered by the County Auditor -Controller, and secondly from bond funds and cash on hand. Upon approval by the Countywide Oversight Board, the ROPS 22-23 will be submitted to the County Auditor -Controller, the State Controller's Office and the DOF in addition to posting it on the Successor Agency section of the City's website as required by SB 107. STRATEGIC PLAN ALIGNMENT: This item contributes to the Envision Riverside 2025 City Council Strategic Priority 3 — Economic Opportunity, particularly Goal 34: Collaborate with key partners to implement key policies and programs that promote local business growth and ensure equitable opportunities for all. Moreover, declaring approval of the draft ROPS also aligns with each of the five Cross -Cutting Threads as follows: 1. Community Trust: Approving the draft ROPS in a public forum demonstrates that Riverside is committed to community trust. For example, the draft ROPS will be certified by an external audit overseen by the County Auditor -Controller, and a copy of the approved ROPS will be submitted to the County of Riverside Auditor -Controller, State Controller's Office, and Department of Finance and is posted on the Successor Agency website. 2. Equity: Approving the draft ROPS demonstrates that Riverside is committed to equal access to community benefits for all Riverside residents. For example, the various line items on the draft ROPS represent properties and positive economic projects for the redevelopment project areas throughout the City. 3. Fiscal Responsibility: Approving the draft ROPS demonstrates that Riverside is committed to fiscal responsibility. For example, staff have requested sufficient funding on the draft ROPS to ensure that sufficient funding for property maintenance and economic project - related costs ensure no impact to the City's General Fund. 4. Innovation: Approving the draft ROPS demonstrates that Riverside is committed to innovation. For example, the draft ROPS contains funding to ensure the future viability of innovative economic projects that will provide a positive impact to the entirety of the City. 5. Sustainability i Resiliency: Approving the draft ROPS demonstrates that Riverside is committed to sustainability and resiliency. For example, the draft ROPS 22-23 includes the amount and funding source for all payments required during the period for all enforceable obligations of the Successor Agency to promote sustainable community and economic development and projects to encourage community engagement and resiliency. FISCAL IMPACT: There is no fiscal impact associated with this report since expenditures will come from the RPTTF, bond funds, and cash on hand.