Successor Agency to the San José Redevelopment Agency Approval of the July 1, 2025 through June 30, 2026 Administrative Budget and Annual Recognized Obligation Payment Schedule for Fiscal Year 2025-2026. - TO BE HEARD IMMEDIATELY AFTER CONSENT
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The memorandum discusses the approval of the Administrative Budget and Recognized Obligation Payment Schedule (ROPS) for the Successor Agency to the San José Redevelopment Agency for the fiscal year 2025-26. It includes details on the budget allocations, personnel costs, and funding sources for the period from July 1, 2025, to June 30, 2026. The Administrative Budget totals $193,217, reflecting a decrease from the previous fiscal year, while the ROPS outlines financial obligations totaling $199,102,040. The document also notes the required approvals from the County of Santa Clara and the California Department of Finance.
Key points
The Administrative Budget covers the period from July 1, 2025, to June 30, 2026.
Total Administrative Budget is $193,217, a decrease of 37% from the previous year.
The Recognized Obligation Payment Schedule (ROPS) totals $199,102,040 for the same period.
Funding sources include a reserve from the previous ROPS and the Redevelopment Property Tax Trust Fund.
The County of Santa Clara and the California Department of Finance have approved the ROPS.
Limitations
The document contains unresolved placeholders and truncated information that may affect the completeness of the summary.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 40,248 chars
COUNCIL AGENDA: FILE: ITEM: TO: SUCCESSOR AGENCY BOARD TO THE SAN JOSE REDEVELOPMENT AGENCY SUBJECT: See Below Approved 6/10/25 25-653 9.1 FROM: Maria Öberg DATE: May 19, 2025 Date: 5/22/25 SUBJECT: Successor Agency to the San José Redevelopment Agency Approval of the July 1, 2025 through June 30, 2026 Administrative Budget and Annual Recognized Obligation Payment Schedule for Fiscal Year 2025-26 RECOMMENDATION Successor Agency Board to the San José Redevelopment Agency adopt resolutions approving the: (a) Administrative Budget for July 1, 2025 through June 30, 2026; and (b) Recognized Obligation Payment Schedule 2025-26 and authorizing payment for items thereon, which details the obligations of the Successor Agency Board to the San José Redevelopment Agency for the period of July 1, 2025 through June 30, 2026. SUMMARY AND OUTCOME The Administrative Budget illustrates the City of San José (City) allocation of personnel and professional service resources. The Recognized Obligation Payment Schedule 2025-26 (ROPS 25-26) includes financial obligations of the Successor Agency Board to the San José Redevelopment Agency (Successor Agency Board) for the reporting period of July 1, 2025...
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Generated summaryAI-assisted
The source text indicates this attachment appears to be a draft document.
This document is a draft resolution from the Successor Agency to the Redevelopment Agency of the City of San Jose, approving the Administrative Budget for the period from July 1, 2025, to June 30, 2026. The proposed budget reflects estimated expenditures of $193,219, which is a 37.0% decrease from the previous fiscal year. The funding source for the budget will be the Redevelopment Property Tax Trust Fund.
Key points
The resolution is for the Successor Agency to the Redevelopment Agency of the City of San Jose.
It approves the Administrative Budget for July 1, 2025, through June 30, 2026.
Estimated expenditures are $193,219, a 37.0% decrease from the previous fiscal year.
The decrease is attributed to reduced personnel costs and staffing levels.
Funding will come from the Redevelopment Property Tax Trust Fund.
Limitations
The document is labeled as a draft.
There are unresolved placeholders for the resolution number and adoption date.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 2,679 chars
NVF:KWF:CLS 5/19/2025 SUCCESSOR AGENCY RESOLUTION NO. ______________ A RESOLUTION OF THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE APPROVING THE ADMINISTRATIVE BUDGET FOR JULY 1, 2025 THROUGH JUNE 30, 2026 WHEREAS, Redevelopment Dissolution Law requires that the Successor Agency to the Redevelopment Agency of the City of San José (“Successor Agency”) prepare an Administrative Budget for the County of Santa Clara Countywide Oversight Board (“Countywide Oversight Board”) approval, which includes Successor Agency operating costs (unemployment costs and professional contractual services) and City of San José (“City”) support services; and WHEREAS, the Successor Agency’s proposed Administrative Budget for the period of July 1, 2025 through June 30, 2026 reflects estimated expenditures of $193,219, a 37.0% decrease from the approved Administrative Budget for FY 2024-25; and WHEREAS, this decrease in expenditures is the result of an decrease in personnel costs and staffing levels to support the work of the Successor Agency; and WHEREAS, the source of funding for the Administrative Budget will be the Redevelopment Property Tax Trust Fund (“RPTTF”), a property...
Official source link unavailable.
The file was imported, but the current source metadata does not include a public document URL.
Generated summaryAI-assisted
The source text indicates this attachment appears to be a draft document.
This document is a draft resolution from the Successor Agency to the Redevelopment Agency of the City of San Jose, approving the Recognized Obligation Payment Schedule (ROPS) for the fiscal year 2025-26. It outlines the obligations of the agency for the period from July 1, 2025, to June 30, 2026, and includes references to approvals from the County Auditor-Controller and the California Department of Finance.
Key points
The resolution approves the Recognized Obligation Payment Schedule (ROPS) for 2025-26.
The ROPS details the obligations of the Successor Agency for the period from July 1, 2025, to June 30, 2026.
The Successor Agency is required to submit the ROPS to the Countywide Oversight Board and the California Department of Finance for approval.
The County Auditor-Controller has sent a Notice of No Objection for the ROPS 25-26.
The California Department of Finance has sent a Final Determination Letter approving the enforceable obligations listed on the ROPS 25-26.
Limitations
The document contains unresolved placeholders for the resolution number and the adoption date.
The text indicates that it is a draft and includes instructions to contact the City Clerk for the final document.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 4,722 chars
NVF:KWF:CLS 5/20/2025 SUCCESSOR AGENCY RESOLUTION NO. ______________ A RESOLUTION OF THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 2025-26 AND AUTHORIZING PAYMENT OF EXPENDITURES FOR ITEMS ON ROPS 2025-26, WHICH DETAILS THE OBLIGATIONS OF THE SUCCESSOR AGENCY FOR THE PERIOD OF JULY 1, 2025 THROUGH JUNE 30, 2026 WHEREAS, pursuant to Redevelopment Dissolution Law, the Successor Agency to the Redevelopment Agency of the City of San José (“Successor Agency”) is required to submit a Recognized Obligation Payment Schedule (“ROPS”) to the County of Santa Clara Countywide Oversight Board (“Countywide Oversight Board”) and the California Department of Finance (“DOF”) for approval every fiscal year; and WHEREAS, Successor Agency staff has prepared a ROPS for the period of July 1, 2025 through June 30, 2026 (“ROPS 25-26”); and WHEREAS, the County Auditor-Controller (“CAC”) is authorized, but not required, to review the ROPS and transmit objections to any items not demonstrated to be enforceable obligations to the Successor Agency, Countywide Oversight Board, or DOF; and WHEREAS, on January 13, 2025, the CAC...