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SUCCESSOR AGENCY (ABX1 26) AND OVERSIGHT BOARD


Wed, 04/04/2012 - 11:40

On June 28, 2011, the Governor signed two budget trailer bills into law, ABx1 26 and ABx1 27, which became effective June 29, 2011. ABx1 26 eliminates redevelopment agencies in California and provides direction and guidelines for the dissolution of all redevelopment activities and functions. On December 29, 2011, the California Supreme Court issued its opinion in the case California Redevelopment Association, et al. v. Ana Matosantos, etc., et al., Case No. S196861, and upheld the validity of ABx1 26 and invalidated ABx1 27. As a result of the delay in the effective date of ABx1 26 caused by the Matosantos case, most deadlines in ABx1 26 have been extended by the Supreme Court by four months.

On January 10, 2012, the City Council adopted a resolution electing to have the City Council to serve as the Successor Agency to the dissolved Lynwood Redevelopment Agency. On January 31, 2012, the City Council appointed the Lynwood Housing Authority to serve as the Successor Agency to retain housing assets and functions previously performed by the Lynwood Redevelopment Agency.

Part of the process of winding down redevelopment agencies affairs pursuant to ABx1 26, is the preparation an Enforceable Obligation Payment Schedule (EOPS) by the Lynwood Redevelopment Agency and Recognized Obligation Payment Schedule (ROPS) by the Successor Agency and the posting of such documents on the Successor Agency website.

EOPS
Pursuant to AB x1 26, redevelopment agencies must adopt an Enforceable Obligation Payment Schedule that lists all of the obligations that are enforceable within the meaning of subdivision (d) of Section 34167.

ROPS
An ROPS is a document setting forth the minimum payment amounts and due dates of payments required by enforceable obligations for each six-month fiscal period until the affairs of the LRA have been wound up and all obligations have been met.


AGENDAS/AUDIO

Oversight Board to the Successor Agency to the Dissolved Lynwood Redevelopment Agency

PAYMENT SCHEDULES (PDF)

ABx1 26- EOPS (Enforceable Obligation Payment Schedule)(Adopted 8/24/2011)

ABx1 26- EOPS (Enforceable Obligation Payment Schedule) (Amended 1/31/2012)

ABx1 26 – EOPS (Enforceable Obligation Payment Schedule)(Amended 3/20/2012)

ABx1 26- EOPS (Enforceable Obligation Payment Schedule)(Amended 4/3/2012)

ABx1 26- ROPS (Recognized Obligation Payment Schedule)(Preliminary)(Draft)(Prepared 8/20/2011)

ABx1 26-  ROPS (Recognized Obligation Payment Schedule)(Preliminary Initial) (Amended 1/31/2012)

ABx1 26- ROPS (Recognized Obligation Payment Schedule)(Draft)(Adopted 2/21/2012)

ABx1 26 – ROPS (Recognized Obligation Payment Schedule)(Draft) (Amended 3/20/2012)

ABx1 26 - ROPS (Recognized Obligation Payment Schedule)(Period of January 1, 2012 - June 30, 2012)(adopted 4/3/2012)

ABx1 26 - ROPS (Recognized Obligation Payment Schedule)(First and Draft)(Approved by the Oversight Board on 4/23/12)

ABx1 – ROPS (Amended First  Recognized Obligation Payment Schedule - Consolidated) (Period January 1, 2012 to June 30, 2012) (Revised 5/1/12)

ABx1 – ROPS (Second Recognized Obligation Payment Schedule - Consolidated) (Period July 1, 2012 to December 30, 2012) (Revised 5/1/12)


Oversight Board Approved 2nd ROPS May 2, 2012

Oversight Board Approved Amended 1st ROPS May 2, 2012

ABx1 26 EOPS (Enforceable Obligation Payment Schedule) (Amended 5/15/12)

Oversight Board Approved EOPS and all Subsequent EOPS Amendments


Oversight Board Approved ROPS III August 21, 2012

Oversight Board Approved ROPS III as Amended August 28, 2012


Oversight Board Approved ROPS III as Corrected October 9, 2012

Oversight Board Approved ROPS 13-14A February 26, 2013

Oversight Board Approved ROPS 13-14B 9/17/13

Oversight Board Approved ROPS 14-15A (2/18/14)